repossession Tag

20 Dec Can my bank seize and auction in Spain other assets in my name beyond the mortgaged property in case I stop paying?

Yes, the bank can do that. Generally speaking, mortgage-loan contracts for individuals signed with bank entities include the faculty for the bank being able to choose any of the debtor’s assets, present or future, at the time they recover the debt. Therefore, the bank can...

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07 Jul On July 01-2011 the Spanish Cabinet enacted an executive Decree containing several measures aimed to protect individual home owners against wild bank repossessions

On July 01-2011 the Spanish Cabinet enacted an executive Decree containing several measures aimed to protect individual home owners against wild bank repossessions. The most important measures are: - Firstly, in order to lessen the harmful impact of the economy crisis on the citizens who are...

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06 Apr BUYERS SNAP UP SPANISH 85% MORTGAGES

Spanish bank agent Bancaja Habitat is attracting foreign buyers to its repossessed property stock with 85% loan-to-value mortgages. Bancaja has sold around 40 units in the last three weeks to foreign and domestic buyers, who don’t have to start repaying the mortgage for three years. The reluctance...

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