Atomic bomb dropped registrars and notaries is activated

Posted on  February 23, 2018 for ataque al poderby  ataquealpoder

This article is a blatant exercise of plagiarizing the famous article that opened  Jose Ma nuel Novoa  the ban regarding the mortgage market.

And it is that  the issue of securitization is that it is too complex a subject for a legal world of the mortgage market and legal system who can barely add up.

In this article, we will throw a bomb at the waterline of the mortgage market, putting the focus on the mortgage and the mortgage liability. Heresy in the making. And the mortgage liability is, in many cases, fraud law.

This article is not a legal article. Moreover, the other day someone commented that some Provincial Court did not admit the anatocismo or the Supreme Court has issued jurisprudence ... .. or the Association of Registrars has done this or that ...... lawyers to use bow to these methods ... ., etc. etc. If we tragásemos all the stories they tell us, we would not continue in our efforts.

We are referring to the recent  ruling 180/2017 of the Court of First Instance and Instruction No. 2 of Torrelavega  declaring " the invalidity of the mortgage liability Clause Eight out of the return of capital" .

This sentence is perhaps insufficient and we have fallen short and perhaps asking the High Court or the Supreme amend the flat, but is welcome. It should have been a payment in kind, but the órdago is already taken. we will not dwell on the legal basis of that judgment but in the logical argument - that mathematics is based.

With these arguments the ban on opposition to execution and to mitigate mortgage liability is opened.

The legal argument is applicable to many home equity loans held in this country and especially all subscribed by the financial UCI.

As we have explained, when a home equity loan actually being signed two contracts were signed:  the loan agreement  and  the mortgage agreement  that is subsidiary to the loan agreement.

Well, the loan agreements in Spain are "securitized" or be subject to mobilization through the mortgage market if they meet a number of features. One is that the loan does not exceed 80% of the appraised value of the property. Basically what the legislature pursues is that if the debtor defaulted a very fast implementation process in which the lender recovers its loan and the borrower sees that the property covered by the warranty occurs.

Spanish mortgage market in mortgage valuations have been inflated. But also, sometimes, as in the case of the UCI entity, no pricing is used to calculate the mortgage liability but this entity simply the number you want to invent.

Why must pricing provided by the mortgage market used to calculate the mortgage liability?

By pure logic. A property worth 100 can not guarantee a loan of 150 (unless you're a Spanish financial institution).

Well, the above mentioned judgment 180/2017 limited the mortgage liability to the principal borrowed.

For a loan of 107,160 euros the mortgage liability amounted to 170,726.40 euros, ie a 159.32% higher than the value of the loan and much higher than the value of the property. Interestingly there was an assessment that did not correspond to the appraisal report but was based on the agreed value auction purposes. Hardly the property could be worth 170,726.40 euros when they had just bought the same day for 90,000 euros (this would be the appraised value).

The bottom line is rather curious. It turns out that drift mortgage liability of an alleged pact since the mortgage is a real contract between parties. Here comes the substantial deception consented by notaries and registrars and judges on tiptoe. If a person buys a property for 90 thousand and the bank lends 107 000 .... the property is worth 170 thousand and therefore can not disguise a personal responsibility to 63,000 euros for the property not covered by a "pact" FITTING appraisal and then attempt to collect the "unassailable" foreclosure proceedings. And it is that writing should have another clause to say something like this:

"This property does not cover all the responsibilities that we would like to cover in the event of default. The property covers as much as 90 billion euros. Therefore, your personal liability not covered by the property amounts to 73,000 euros. "

The bottom line is none other than notaries, judges and registrars do not apply correctly the rules and laws which cover the fraud and abuse of rights against the consumer.

Hypocrisy is a measure perfectly camouflaging mortgage liability and personal to say that the 1910 Civil Code is an unassailable dogma of faith (Unlimited liability with present and future) and that the consumer will know what is exposed.

The conclusion to all the above is that a high percentage, if not 100%, of the registered mortgage liabilities on mortgages in Spain are a fraud law ... .. even before entering evaluate the existing system of pricing in Spain .

Published by misteri1963