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Historical origins of the mortgage

The mortgage in the U.S.

Multi Mortgage

Non-payment mortgage

It is the statutory legal process or loss of mortgaged property. Creditors must notify the debtor of its intention to auction off for lack of mortgage payments. Debtors usually have a term of two to three months before the auction begins creditor bank. It is recommended that the debtor tried to sell the secured property prior to auction. In some cases, creditors are willing to negotiate a short sale if the situation is conducive to minimize their losses.

Faced with a situation of default on mortgage, it is important not to have 3 unpaid assessments, given the requirement that financial institutions are in Spain to deposit a certain amount as security for payment that is occurring. This means that to reach the quarter unpaid, or demand starts to strongly enforced in large part motivated by the debt costs of lawyers, attorneys, appraisers, default interest, which is why it is always better to make a sale of mortgaged property is still cheap but not even cover the amount of the mortgage, with the consent of the hipotecante that end with an auction where the price achieved will always be minor, considering that However, the remaining debt is not satisfied with the product of the farm, we will as always outstanding debt.