Re: Re: Investor confidence in Spain improves says WSJ

#103669
Anonymous
Participant

osmunkey said “(ii)

all mortgages (UK ones do, suspect Spanish ones also) have fine print that says if the Bank determines you are in negative equity, the Bank will demand a “deposit top up” to reduce their exposure and give you 30 days to make the cash deposit — people in this bind will get a letter to pay a cash top up of 10-20% of original property market value on the documents.”

this doesn’t exist here in Spain, even on commercial (commercial property loans); here the banks shut their eyes and hope for the best; ie that you pay; and if you don’t they nail you good and proper……….. 😯