Stop negative equity in Spain

Paperwork Image

There are hundreds of buyers with negative equity in Spain as they were granted huge mortgages during the real estate/ financial boom for properties that have suffered a dramatic value loss along the last years. Once the bubble burst and many property buyers were over debiting, Spain Government placed a limit to banks for the value they could give to these properties when they would be repossessing them. This limit has also opened doors for mortgage debtors with negative equity to settle with the Bank for the full payment of the debt against the handing of the property back to the financial institution.

If your mortgage data is near the limit established by law and you have a floor clause, or a IRPH index in your mortgage deeds, you have all the possibilities for the success of a negotiation with the Bank so you can finally forget about the over-mortgage in Spain.

You can therefore restart from the beginning in Spain. At today’s prices. Not the inflated market prices of yesterday.

The service starts with a settlement proposal to the bank, which, if not accepted, can also be defended in Courts.

We believe this is a fair, pro-consumer way to liberate people from the abuses of Banks and the property bubble they created.

©2016 CostaLuz Lawyers. All rights reserved. Privacy policy and cookies. Copyright and disclaimer.