I have a very difficult situation, I explain: a loan of 80 thousand euros on the apartment, with a value of 45 thousand euros.
Later I find out by chance that I have a second-level court mortgage by a bank, as I was a signer to secure a loan from my uncle, a loan never paid.
There are 5 signatories as collateral, including myself and my wife, who also own 50% of both the building and the mortgage.
Being a first mortgage I know that the bank of the judicial mortgage can not act, but I also know that not paying regularly the mortgage will come the day they will present themselves to seize the house.
I decided not to pay the mortgage for a couple of years and Unicredit who has the first degree I think now is starting to act, obviously the second degree will not take anything?
What should I do now? Submit an offer to the second degree mortgage to cancel the mortgage as cmq so it will not take anything?
If instead I decide not to pay anyone how would it end?
Once the unicredit has been taken back it will put it up for auction but at the time of today that auction house would not even be worth 10/15 thousand euros.
The remainder of the loan to be paid is about 50 thousand euros.
Will they seize me 1/5 for the remaining amount or once sold at the auction ends like this?
To say that the second degree mortgage has never acted on anything else, nor on my salary even if I have a permanent job for 6/7 years.
If the mortgagee of first instance expropriates the property for which the loan was paid, and the proceeds are insufficient to cover the loaned capital (plus default interest and legal fees), the remaining debt remains payable by the nominees. of the mortgage.
I can not say why the creditor with a legal mortgage has not yet acted with the foreclosure of his salary. Probably this is a strategy that has not yielded the expected results: if the asset is encumbered by a mortgage secured by a primary mortgage, in a context of falling rates, the commercial value of the growing property and the timely payment of the mortgage installments by the borrower, the creditor secured by a back mortgage could find, in the middle tempore, capacity and satisfaction with a possible forced sale of the asset.