A family member has endorsed me, what happens if I don’t pay?
- If you cannot pay your loan, the person who has signed as guarantor of the loan must respond not only with his payroll or pension but with all his present and future assets.
I am going to be evicted, what can I do?
- If you are part of groups of special vulnerability, such as large families, unemployed people with exhausted benefits, or other situations that meet special economic conditions, Law 1/13 on measures to reinforce the protection of mortgage debtors provides for the suspension of certain evictions. In Andalusia, Law 4/13 on measures to ensure compliance with the social function of housing expands state regulations and even provides for the temporary expropriation of mortgaged homes from banks to prevent evictions. In addition, if your mortgage has abusive clauses, such as the floor clause or default interest higher than the legal one, you can request the judge to nullify or stop the procedure until these issues are resolved.
My economic situation prevents me from continuing to pay the mortgage loan installments, what can I do?
- If it is impossible to pay the installments, you must verify if you are within the “exclusion threshold” provided for in Royal Decree-Law 6/2012 and if your bank adheres to the code of good practices that it establishes. In that case, you could request certain measures depending on the specific situation that aims to facilitate the fulfillment of economic obligations and, in certain cases, be able to take advantage of dation in payment, allowing you to deliver the home to the bank in exchange for liberalization. Of the debt.
- Otherwise, it would be convenient to contact the bank to try to find a joint solution. If a said entity offers some type of “solution” or proposal to try to improve the situation, you must read any document that the entity gives you BEFORE signing. In case of doubt, you can always count on our advice to prevent you from signing something different from what the entity may have told you. If, in addition, said signature is going to be before a notary, do not hesitate to ask him all the doubts you may have related to the deed since he should resolve them so that you are fully aware of the content of the document.
- In addition, it would be convenient for you to find out if in your Autonomous Community there is any type of aid approved for those people with economic difficulties to face the payment of the mortgage loan.
- On the other hand, if you receive a lawsuit filed by the bank (ordinary or foreclosure) it is important to know that from its notification a certain period begins to count to be able to defend yourself against it. To prevent said period from expiring, and, with it, your possibilities of defense being diminished, it is essential that you immediately contact professionals who can advise you on the steps you have to take, either through the Court itself, a consumer association such as FACUA, bar association, private lawyers, etc.
Are lenders subject to the control or supervision of any public body?
- You must file a claim with the entity, which generally has bodies prepared to serve its clients and which are of two types. One is the Department of Customer Service, whose existence is legally mandatory. It is an internal and specialized department that must have the necessary autonomy to decide on conflicts.
- Another body is the Customer Ombudsman, which is external to the entity and whose creation is voluntary. It will act with independence and total autonomy.
- Both must acknowledge receipt in writing of the complaints presented to them. And resolve or deny them equally in writing and with reasons. Only when the claimant proves that their complaint has been denied. That it has been dismissed, or that two months have elapsed since its presentation without a resolution. Can the claim be filed with the Claims Service of the Bank of Spain.