I can not pay the mortgage!

Some years ago you bought a lovely house and received with it a huge mortgage. You was able to buy the house thank to the mortgage indeed.

You remember the real estate agent explained to you all costs could be included in the mortgage. But now you have a really high monthtly instalments that you can not face.

This is not an easy situation, of course, but you must try to deal with it in the best way and suggest to the bank the existing options, as the agreement known as it is the dation in payment.

Your bank can consider accepting your house as payment for the whole or part of the debt you owe them; a breakdown of the amounts (mortgage itself, interest, comissions) must be calculated, a new valuation of the house need to be done, notary, registry and taxes costs must be beared in mind (and who will pay them!).

Of course, it is not a magic solution, but it is a way to improve a difficult scene.