Payment mortgage It can turn into a real nightmare for many people who are going through a difficult economic situation for some reason. However, it also opens a door of hope for these people.
HE Bank of Spain Families who cannot pay their mortgage debt, Good Practice Rules, A resource that identifies measures that banks can voluntarily adopt to help mortgage holders in difficult economic situations. If you are not aware of the existence of this code, below we will tell you what this code consists of and the requirements to comply with it.
What you need to benefit from the Code of Good Practice
In order to access this resource, it is necessary to have a bank with which the mortgage agreement is made. adhered to code and meeting other conditions such as collateral for the loan habitual residence and this The property does not exceed 300,000 euros. Additionally, the economic requirements identified in the section “exclusion threshold”.
Check if the bank complies with this rule
Not everyone who has a mortgage debt and is having any problems coping with it may not be able to benefit from the help contained in this law. So if you find yourself in this situation and want to know if you can get any of this help, the first thing you need to do before you start any more paperwork is to check if the bank you’re getting your mortgage from follows this rule.
On the Bank of Spain’s own website list You can consult all banks that adhere to this rule. If your legal entity is on the list, you can continue the transactions.
What does the aid consist of?
Once you have verified that your bank is on the list of organizations that comply with these rules, you should know what benefits you are eligible for (if you also meet other necessary requirements). The code’s mitigating measures include: Debt restructuringoffer a haircut or payment request.
Until when can you make a request?
CBP applies to mortgage loans contracted before December 31, 2022, and the deadline to claim relief has been extended Until December 31, 2024.
Source: Informacion
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.