02 Jul 2010 12:01 AM:

Hello Stewal,

You are not the only one, of course not.

I work for a Spanish bank and I have seen 1000s of people in the very same position.

What I would suggest first is trying to get your finance together, try to speak to your branch manager in Spain and re-arrange the mortgage if possible. We are very good listeners! 

If nothing works then do a "dacion en pago" which means that you are giving up the property because you realistically cannot afford it. To do so you will need to proof them that you are out of work and you've got no money left on the bank account for the mortgage.

Before you do anything really, think twice because you WILL loose all the money you have already invested in your dream and that is a shame. If you think there is a small possibility to make it work do it. Do not just give up because you will never, ever get a mortgage in Spain, ever, not only that. Spanish banks now have access to Experian and you may have trouble in the UK.

I am deeply sorry for you :(

Hope it helps

golfus

Thread: reposession of my Apt

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