02 Aug 2009 12:00 AM:
Can anyone assist me?
We, like many others, can no longer pay our mortgage on a Villa in Sucina, Murcia. I have done everything possible to sell it at over €100,000 below what we paid, with no luck. Since completing on this property last July (2008) we have emigrated to North America and have been funding this Villa from our remaining funds until now, in the hope that we could sell it and just pay off the mortgage.
The bank has offerred a Dacion en Pago? but this entails paying for a valuation and paying for lawyers to act as Notories, which by the nature of my situation is rather baffling, because I have told them that I have no money left!
What are the differences between dacion en Pago or a Repossesion?
Surely I can just have the keys handed back to the bank? I have never been in this situation before.
Does the bank have any right to chase you for any other monies? Can they approach your UK bank to assist them? I have a very small amount kept in the UK to cover my daughters education costs, i cannot afford this to become jeopardised. Can Spanish banks go after your money in UK banks?
I hope that someone can help with these questions, I feel a bit in the dark and would prefer to just take my losses and lick my wounds rather than continue to worry about everything.
S
Thread:
Repossession or Dacion en Pago?
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