What are foreclosures? The first thing we must clarify is what foreclosures are. When a bank carries out foreclosures on primary a foreclosure it means that the requirements to apply the early maturity clause of the mortgage contract have not been met. For this to happen, a certain number of months must be. Also, it can be the equivalent of a percentage of the mortgage loan, depending on its repayment period . In a foreclosure, the debtor must pay the remainder of the mortgage . If you do not do so, the home will be auction. However, there are some cases in which the debtor can undo the foreclosure . Through a mortgage enervation, the auction is paralyz. In this case, only what has not been paid in addition to the corresponding interest and costs will be return, and not the entire outstanding loan.
What is dación en pago?
It is very important to highlight that there is a very low number of cases in. Which the mortgage loan contemplates the possibility of dation in payment. This means that, in the event of non-payment, the debtor would be releas from the debt from the Thailand Email List moment he delivers his home to the bank. This means that you will no longer owe money to the entity after the auction. However, the truth is that very few mortgages establish dación en pago . If this option does not appear in the contract, it is advisable to negotiate with the bank; however, the reality is that you are not oblig to accept. After the auction I still owe a percentage of money to the bank: What happens in these cases? The reality is that, after the foreclosure, it is possible that a percentage of money will continue to be to the bank. This occurs when the money obtain through the auction is not enough to cover the debt in its entirety.
What is the current situation of home foreclosures?
The number of foreclosures on habitual residences stood at , in the first quarter of the year. This is a figure that is the lowest record in the first three months since and that implies. A decrease of compar to the same period in and if we compare it with Italy Email List the previous quarter. This is indicat by the mortgage foreclosure statistics that were publish by the National Statistics Institute (INE). The statistics allow us to see on a quarterly basis the number of foreclosure certifications that were initiated and register in the Property Registries during the reference quarter. The National Institute of Statistics makes it clear that not all mortgage foreclosures end with the eviction of their owners. During the first quarter, some , foreclosures began , this is less than in the same period of and. Lower if we compare it with the last quarter of Of all these foreclosures, , were direct to urban properties, which include homes, and, on the other hand, were intend for rural properties.