A judge of the Audiencia Provincial de Navarra has run a mortgage delinquent with payment of the property in question, although the bank was demanding more money for the depreciation of the property in recent years.
The formula chosen by Judge Francisco José Goyena that contradicts the Mortgage Law associations consumers and have called for reform because UI benefits in excess of the bank. The judge attributed to the crisis caused by "the mismanagement of the financial system," the depreciation of the estate, thus releasing the complainant to pay the remainder except the interest. The judge based his decision on the bank appraised the house at 75,900 euros when he gave credit to his client in 2007 and auctioned the house when running the mortgage pricing in 2009 declined to 42,895 euros. In his view, the drop in value, the bank requires compensation, raises "a reflection at least morally unsettling." The judge justified the BBVA (entity that awarded the loan) is covered by law "to apply what they ask for" and therefore is not abusing his client, but stated that other than the affected paying the brunt of the depreciation of the building about pricing, 2007 .
The ruling was cited by the Consumers and Users Organization has asked for "several months" a mortgage-reform legislation that allows the "lieu of payment." That is, the client can not afford to pay the mortgage debt to pay off the delivery of housing, as regulated in France and the U.S..
UI parliamentary group in the Congress prepares an initiative in this regard after the federal coordinator of the match, Cay Lara, last November would raise this as one of his proposals to end the crisis. The
banks say the English Mortgage Law has more guarantees than France or the U.S. that have led to the junk loans originating in the global financial crisis.
Defaults on mortgages have multiplied in recent years. In the first three quarters of 2010, foreclosures skyrocketed to 71,333, according to data collected by the General Council Judicial Branch. The upward trend indicates that the annual count defaults last year exceeded 100,000 cases. Protagonist of the crisis
Judge auto editor dated December 28 BBVA attributed to a role in the banking crisis as "part of the protagonists of the financial system and why it is especially painful that the argument justifies claim is based on circumstances that essentially and as they say has caused a great sensibility and an awkward one. "
The bank said it would appeal the decision before the Constitutional Court "because the BBVA think that this sentence violates the constitutional principle of protection effective judicial referred to in Article 24 of the Constitution. "
source: publico.es
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