Spanish Mortgage Association

According to statements collected in the different media of the President of the Spanish Mortgage Association, I would point out that in case of legalised the formula cancel the mortgage by delivering the property to the lender. It would bring consequence as that would reduce the volume of credit, because in terms of the market it would not be free or harmless to implement this measure.According to statements by Santos Gonzalez. Remember the President of the Association it mortgage Spanish and contemplates that the should be aware is obvious and everyone should know that there is the possibility that the debt is settled by delivering housing in Spain, as well in the article 140 of the Spanish mortgage law. However, financial institutions are welcome to the (article 1911 of the cc.) which says that the fulfilment of the obligation responds the debtor with all his possessions, present and future, which hits the social classes and which allegedly threatens social cohesion. The international economic world He is supported by respect for contracts, and who contracted debts have them to pay (in what we all agree). But not with the abuse of mortgage clauses that contain an intense contractual unbalance between the entity and the client and estimate that they are mostly predisposed by the financial institution. Likewise remember Mr. Santos Gonzalez, that the financial crisis has allegedly been provoked by financial institutions that you represent, since the guarantee of mortgages would have been only about housing, the envelope there ratings would not existed, or in theory would not have been as brutal, because it would have forced the Bank to assume greater responsibility and they had not given much money lightly, because having unlimited liability everything is much more easy for the entity since it transfers the risk to the mortgage.

The guarantee on the property, the difference between the value of the award and the rest of the mortgage would be virtually non-existent and the entities nor lose silly money. The mortgage is It would be used exclusively to buy housing and not to grant 100% of the purchase value and for other purposes such as the purchase of automobiles, furniture, travel etc. Or any other inappropriate for this warranty application. As well the non-executed would be convicted of by life to not possess any good.