Mortgage Mediation
What types of issues can be mediated?
How to initiate the mortgage mediation process?
The economic crisis and its disastrous consequences have caused mortgage loans to currently become the noose that suffocates thousands of mortgage debtors. The mortgage has ceased to be the legal instrument that allowed us to fulfill the dream of acquiring a home, to become a nightmare characterized by eviction and subsequent social exclusion. The mortgage debtor with difficulties or unable to pay the mortgage installments is forced to go through two paths, bankruptcy proceedings or mortgage execution, procedures that do not provide a feasible solution to maintain their home or avoid the problem of mortgage over-indebtedness. However, recently, Public Administrations, concerned about this situation, have made available to citizens the so-called “mortgage mediation”, an extrajudicial procedure aimed at avoiding mortgage execution, reducing mortgage over-indebtedness, and safeguarding their main residence.
Almost all conflicts can be brought to a mediation process. Mediation takes significantly less time than a judicial process, and is considerably less expensive.
Almost all conflicts can be taken to a mediation process. Mediation takes significantly less time than a judicial process, and is considerably less expensive.
Mediation is configured as an alternative to the judicial process, and at the same time as complementary, since once the judicial process is initiated, either by the will of the parties, or by imposition of the Judge, the judicial procedure will be suspended until the mediation process is completed.
The involved parties request and accept the intervention of a mediator, an impartial, neutral professional without the capacity to make decisions for them, who assists them with the aim of favoring channels of communication and the search for mutually agreed-upon agreements.
