Re: Re: Press articles about the Spanish property situation

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GarySFBCN
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“They said I have to leave,” he says. “But I don’t have anywhere else to go.”
Having lost their homes, those evicted must still pay 40 per cent of the debt at the time of purchase, as well as judicial fees of up to €40,000-€60,000.

The irony is that it is in the bank’s best interest to renegotiate the mortgage down, either with lower payments or lowering the overall mortgage amount because now they are stuck with yet another property on their books. Maybe they didn’t realize that there is a real estate crisis or something. 😀

Bank’s are run by criminals and idiots.