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Thursday, October 28, 2010

Think it is bad being in financial trouble here? Try somewhere else!

With all the financial distress, falling real estate prices and mortgage defaults, we forget the advantages individual borrowers have under our system of laws. In Spain, people who default on their mortgage debt can never escape. Read the story of a man who, after losing his home and business, still faces huge unpaid debts not only for the mortgage but also 77000 euros in bank legal fees.
In Spain, homes are taken but debt stays (N.Y. Times 10-28-10)
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1 comment:

  1. UnknownSeptember 9, 2015 at 5:24 AM

    Nice Blog!!!Laws can be made by legislatures through legislation.
    New Jersey Lawyer

    ReplyDelete

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