Unjust Enrichment of Mortgage Creditor

All Magistrates of the Civil Courtrooms of Spain's Supreme Court have recently set legal doctrine in regards to unjust enrichment of a mortgage creditor when repossessing for a price much lower than the Valuation Value: Bank sells afterwards at a much higher price which brings an … [Read more...]

Decree for Mortgage Debtors

Some benefits of the recently approved Decree "Second Chance" for mortgage debtors: - The Cabinet approves the extension for two years, until 2017, of the period by which people living in primary residences cannot be evicted by lender Banks. In relation to collectives that are object of … [Read more...]

Mortgage Negotiation with Your Bank

Negotiating a reduction in your mortgage interest rate If you are experiencing difficulties with the payment of your mortgage instalments, some tips: Negotiate with the Bank: 1. Renegotiate the interest rate: specially if you have a floor clause (cláusula suelo) or any other abusive clause … [Read more...]

Mortgage Default Assistance

Are you struggling to pay a super-mortgage on a house for which the initial valuation was highly-inflated? Is the Bank not listening to you? Is your pension not enough to cover such an expensive mortgage? Do you feel that you cannot keep living this way? Is the situation destroying your … [Read more...]

Banks do not pay donation taxes for payment in kinds

When, in a payment in kind (in Spanish, "dación"), the property is valued lower than the debt and the lender releases in their entirety to the debtor, the General Directorate of Central Taxes considers that there is no donation, which greatly facilitates that such operations, so socially demanded, … [Read more...]

What happens once I default in my mortgage payments in Spain?

Q-What happens once I default in my mortgage payments in Spain? I really cannot afford keeping those payments up... A- 1. Generally, Bank will send to you a notice after three monthly defaults. This is not regulated in any Law, it is just common practice.  An active negotiation with the Bank, with … [Read more...]

What if the Bank refuses my keys back?

Well, that is not the end of the story . Banks are under Law. What to do? 1.- Keep good control on steps made by the Bank after the amicable  keys-back offer refusal and once the enforecement-auction procedure starts. You need to monitor if (a)  the enforecement procedure is being done … [Read more...]

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