On the other hand, sometimes the decision of granting the dation in payment entity takes both interests, commissions and miscellaneous charges accumulate. Pricing of homes, may be also different lower past the time when it comes the time of the auction. People affected by the mortgage platform and several groups more even collected signatures for an ILP (legislative Popular initiative) on the dation in payment that is retroactive. Declaration of insolvency not an appropriate procedure for the legal treatment of the insolvency of natural persons is regulated in Spain, says the Ombudsman; Many ask their regulation since, currently, a person is declared bankrupt does not allow to cancel debts, although you can defer some payments. The Confederation Espanola de organizations of housewives, consumers and users (CEACCU) asks you to match families and companies, so that they can liquidate their debts with assets available at the time of the bankruptcy.
And consider that a family is bankrupt when it is not possible to pay off your debts (mortgage) with their assets (salary, allowance) available. The debt could renegotiate, retaining housing, or you could resort to the enactment. The Ombudsman speaks of a release (of the debt) which allow start again and avoid social exclusion. The PSOE, for its part, proposed an out-of-court procedure prior to the bankruptcy to give solution to not wilful subsequently overhang and lengthen deadlines for evictions. Social rent are often demanding in many cases, especially in processes that affect immigrants or families at risk of social exclusion. Once presented a claim of foreclosure for non-payment, the Bank can buy the property at the subsequent auction that you can also declare void or another buyer, almost always at a price that is around 50% of its value (or even less) if there are several auctions. There are occasions in which families are still living in houses that are already owned by the Bank and, basically, expect to get them the warrant of eviction.