Repossession Negotiation

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12 Jul 2010 00:00 by pjb68 Star rating. 11 posts Send private message

Does anyone know how long it takes these days for a spanish bank to repossess the property? and would you know whether a negotiation can be reached during the time of repossession if you find some money? i.e 6 months after the bank has stated their starting repossession proceedings?





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12 Jul 2010 21:00 by promedia Star rating in Cheshire/Riviera del.... 131 posts Send private message

 not exactly sure on this but in the current climate i think you need to speak to your bank. they will as all banks do charge you the administration fees, but if it gets your apartment back.

Suggest that you also keep communication open with your community administrator as you will possibly be behind with community fees if the mortgage has been a problem. The community could also have applied for an order for their community fees to be repaid out of the proceeds of the sale.

you also need to be aware that it is now possible for the creditors to chase you through the UK courts. We have recently instructed a yorkshire based no win no fee solicitors that specialise in this for spanish communities looking to get unpaid community fees back from people that have properties in the UK through CCJ's and balifs.

hope you get your situation resolved 

 



_______________________

Ian Cook - Golf Gardens Miraflores - The best place to live on the Costa del Sol

"A day without sunshine is like.................night"




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13 Jul 2010 14:07 by mariadecastro Star rating in Algeciras (Cadiz). 9302 posts Send private message

Legal Questions? Speak to Maria Direct

Generally Banks start the repossession procedure after three months´ payment defaulting. Anytime during the extra-judicial/judicial period you can reach a settlement. That really depends on negotiators´ wills.



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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