£62,000 formal demand for payment of mortgage arrears

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    • #56113

      Hi all

      last month i had formal demand for payment of mortgage arrears £62,000.

      I stopped paying the mortgage 3 years ago due to loss of job in UK.

      Mortgage was 150,000 euros with spanish bank.

      Dont know if they have repossesed the property as the banks advisor did not speak english.

      I do not own any assets.

      The company that sold me the property a sourcing agent have gone bust they promised easy lettings and assured me it the house was 20% below market value when in fact it was not.

      Anyone in a similar situation i would advise before the bank contacts you to:

      put your UK prop in someone elses name before it is too late.
      get a cash paying job as first or second income.
      increase your financial education rich dad r kiyosaki is a good start ( pity i did not eduacate myself sooner)
      use this forum for help
      get a no win no fee solicitor to take on the banks as soem have in spain after recent court ruling that the banks valuation when selling repo at auction was not fair and independent
      eat plenty of fruit and veg
      take 3x 30mins walk or some exercise per week
      have at least 7 hours sleep per day
      listen to relaxation tapes
      dont worry be happy 😀

    • #102868

      Good advice.

      Not sure about the relaxation tapes though. Do tapes still exist? I recommend Mozart on a mp3 player.

      Good luck.

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