Spanish Property Insight › Forums › Spanish Property Forums › Real Estate Topics, News & Discussion › Jingle keys – (handing back the keys to your home) › Re: Re: Jingle keys – (handing back the keys to your home)
Thinking about it if I were in a situation with no equity I would carry on living in the place, stop paying the mortgage (save it). I believe that it can take months or even years to evict someone through the courts.
Heaven help me, but that is the exact advice I gave someone myself not so long ago, and no I wouldn’t go paying money to more lawyers on top.
No one is going to prison for not paying their mortgage and certainly not for one that should never have been given in the first place. It is the banks problem now.
I hasten to add, this was to someone who is on minimum wage, has no assets whatsoever and is unlikely to see their position change in the near future without a lottery win.