Re: Re: Spain to ‘deep clean’ it’s financial sector.



Can we dump our mortgage into the bad bank?

I told our tale on here a while ago when I was asking about what to do if the bank had made a mistake and owed us money. Well, the bank paid us back by adding up to 12k into our account, whilst telling me in the local bank that ‘it was a technical error and they don’t know what is going on’? Then online we saw that they started to take out the correct mortgage amount from the date that their error was made. All great….until. I should have guessed from the smirk on the bank managers face when they cleared the 2,500 euro credit card we had entirely and left us therefore with the system running short of money for the mortgage. We had previously owed 3 months mortgage and thanks to me pointed out their error for them to pay us back they have left us now owing nearly six months. This the bank manager points out is ‘excessive debt’ and says our only option is for us to remortgage. What a surprise….

Get her great offer….. pay 200 euros per month for 3 years but change our 2.5% interest rate to be minimum 5% and maximum 17%. In 3 years time we’ll pay 700 euros per month as in her words then the economy will be fine again (!). So, to clear nearly 3,000 euros she wants us to pay nearly 14,000 euros if you actually work out her offer and the costs involved. We’ve said no so they’re trying to embargo my father in law for 24,000 euros as he is the guarantor on the mortgage. He’s unemployed, two years away from retirement age, in bad health and has his own mortgage plus he’s guarantor from before ours for his other son. How can he possibly guarantee the mortgage, which was done for the ex bank manager to cream off 15k in a loan in his name anyway…?

I H A T E Spanish banks!!!! So many people have walked away from their mortgages by handing the keys back, there are others who have worse than a prison sentence mortgage. If we could hand the keys back i’d do it today, loose all that we’ve paid in just not to have to pay a cent more and especially not for 26 more years. At least we are in Ireland now, in the cold and rain but already the stress of Spain seems more manageable.