Spanish Banks Want Financial bail Out

[ianflyinghigh]

Several years ago I bought a lovely property on this beautiful Island. Over night in the UK I lost my business, and the rental from the property could not cover the mortgage.

I approached Solbank in the very early stages, but they consistantly refused to lover the monthly repayments to a realistic affordable level.

It strikes me that as I was by far not the only person to subsequently find myself in a difficult predicament, (with the property crash that then started in 2008) the banks should have been prepared to accept lots of people paying reduced regular payments, instired of lots of people paying nothing, and having unsalable properties.
Now these same banks will need bailing out.

Other peoples views would be most interesting.

[fifi]

This article may be of interest to anyone who is having trouble with their Spanish bank. It lists the six stages of home repossession in Spain by the banks.

http://www.rosefp.com/pressReleases/PR%20-%20Bank%20Repossessions%20in%20Spain%2015-02-09.pdf

[ianflyinghigh]

Thanks for that posting. Very helpful information on the stages of bank repossession-Thanks again.

[fifi]

You are welcome. Wishing you the best of luck.