Forgot to add, by the way, that she has not only managed to hand back the property in exchange for the debt, but they are also allowing her to live in the property paying rent, which is 50% below what her mortgage was with the bank! So she is now renting her old property for half the monthly fee!
So it seems the banks are trying to help. I don’t know if it is because she is a single mum, or spanish, or who knows why.
She did say though that as soon as the laywer started quoting laws and saying that they should never has offered her a mortgage for that amount as the property was never worth that even back then, they started backing down and in the end they accepted. It took 6 months mind you.
I will try to find out what the laywers argument was to let you know.