From the non-payment of the mortgages
From the non-payment of the mortgages of his housing up to the auction November 15, 2008 Crises You Mortgage, Debt You Mortgage, Negotiation of mortgages, non-payment of mortgages | (1) comment about this topic The financial crisis that flogs Spain, together with the real estate crisis, does that every time there are more the families with problems to confront the payments of his mortgages.
According to the Adicae, at the end of year, more than 500.000 persons will be in this situation, and here it will begin his Calvary. To the first non-payment, the bank will call him to inform him that the same one has taken place. If it is not paid, when pass between two and five months the pressure of the bank will be stronger, since the non-payment of the quotas of the mortgages the interests are joining. The most normal thing is that the bank gets in touch with the debtor to try to look for a formula. At the age of six months, if the situation has not been solved, the bank will request the mortgage execution, that is to say the demand begins. If the debtor does not answer the demand, the process finishes in auction of the housing at the cost of what the debtor owes more expenses and interests. If in the auction the sale does not take place, the bank can repeat it, even without starting price.
Once sold, if the bank has obtained more money than the defendant had to, he will return it to himself. If the obtained money is minor, it will go to other goods that the bad debt has or that could have in the future. They sum up: To speak and to try to negotiate with the bank is the best solution, since to the bank he is not interested in all this process either.
