HipoCash a solution for you?

HipoCash a solution for you?


How can HipoCash help you?

You still owe the bank a number of overdue mortgage payments. If overdue by more than 3 months, your file will automatically go into a legal process, which will end in a public auction (Subasta).

What you need to know in advance: a mortgage is not a loan but a guarantee. More accurately, "you will receive a loan with a mortgage on your property as a guarantee". Suppose you have received a loan of € 200,000. In that case, the mortgage guarantee on your property consists of the loan amount, + the interest, + overdue interest + penal interest + legal costs + other costs. Generally different from bank to bank you must add 30% to 40% to the loan amount. This is the amount of mortgage guarantee that is registered in your mortgage deed and in the register. In this case, € 280,000. 
So if you are behind with payments, and your file is in legal hands, the costs quickly add up and are added to your debt. If after a procedure of about a year (in which you probably also no longer made your payments) your property goes to a public sale, your calculation of what you have to pay back may not be correct anymore, given the high costs added! Lower real estate prices, due to the economic situation will not help either  If after the auction it turns out that the proceeds are less than the amount owed to the bank, you will continue to drag that debt for life, resulting in seizure of accounts and credits.


What can HipoCash do for you ?


By means of a signed mandate you appoint HipoCash as your representative who will contact your bank. HipoCash then negotiates to buy the mortgage from the bank and makes an offer. The law provides that you will also be given the opportunity to repurchase your loan, for the same amount as we have made an offer for your mortgage. If you do not use this option, HipoCash will own your mortgage and you will have to pay Hipocash from that moment. Given your past financial situation, you are unlikely to be able to make these payments. At that point, hypocash will make you a proposal to buy your house for a certain price from you, and depending on the value of the property, you will receive a 10,000 € to 15,000 € Cash on top of that. The result will be that you leave the property without debts and with money on your account to continue your life.

                     
                                                                    

Click here for CONTACT                                                                                     FAQ
 

1) Q: What happens with my mortgage?

A: As HipoCash is the owner of your mortgage, before signing the sale of the property,

the mortgage will be canceled in the register.


2) Q: How do I receive my money?

A: In the notary deed “Compra-venta” will be specified the amount of the sale. You

receive your money with a guaranteed bank check, as mentioned in the title deed.

The rest of the amount will serve to cancel the mortgage ( on your name) out of the

property register


3) Q: Can I ask HipoCash to help me when my file is already in a juridic process by the

bank

A: Yes


4) Q: Can I ask HipoCash to help me when there are more debts mentioned on the nota

simple then only the mortgage?

A. Yes


5) Q: What happens with the depth of the Community of owners, IBI, Water ,Electricity etc.

A: Depending the amount, this will be taking in account to our offer for your mortgage.

After the sale HipoCash will pay these depts.


6) Q: Is HipoCash a solution for everyone?

A: No. If the sum of our offer to the bank for your mortgage, and all outstanding debts

is more than a certain value against the market value of your property, it makes no

commercial sense to buy your property.


Click here for CONTACT 

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