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Old 26th June 2013, 23:16   #1 (permalink)
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Mortgage problems

Hi folks
I am an owner in Royal Heights in Flamingo Country Club and it is with regret that I am on here looking for advice. Due to financial circumstances I am no longer able to maintain the mortgage or maintenance payments on this property.
I am asking anyone for some advice first if they know of anyone that went through a similar situation. I am an Irish citizen and I am wondering what are the consequences of walking away and handing back the keys. My mortgage is with BNP Paribas. Can they chase me through the courts back to Ireland?

Most grateful for any informed advice.

Kindest regards
Paul
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Old 26th June 2013, 23:19   #2 (permalink)
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Re: Mortgage problems

Hopefully someone will have more accurate information but as far as I am aware yes they can chase you back to the Uk and once you start to default they pile on daily interest charges. Be very careful on how you progress with this.
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Old 27th June 2013, 00:05   #3 (permalink)
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Re: Mortgage problems

This is a very serious situation for you but I would be careful not to axcept the first answer you get.
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Old 27th June 2013, 00:16   #4 (permalink)
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Re: Mortgage problems

Surely the first thing to do should be to talk to BNP Paribas and explain your situation. Think how you would approach this situation in Ireland, would you just walk away?
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Old 27th June 2013, 06:28   #5 (permalink)
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Re: Mortgage problems

So sorry to hear about your worrying situation. Robs abvice is the way forward - go and talk to Parabas first. Perhaps the last resort would be to declare yourself bankrupt. Do hope you can resolve things soon.
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Old 27th June 2013, 07:16   #6 (permalink)
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Re: Mortgage problems

Read the thread below as you maybe will be able to help you if you write to him.

http://www.turkishliving.com/forums/...tions-new.html
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Old 27th June 2013, 20:17   #7 (permalink)
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Re: Mortgage problems

Thank you all for your replies. My next move will indeed be to approach BNP Paribas but I im afraid any sort of mortgage forbearance is not going to solve this problem. The site's maintenance fees have just gone up again and each owner has also been laden with further debt from the previous management company's failures. It is the absolute last resort to default on any credit agreement but bar selling the property I dont see a happy ending to this one I'm afraid.
Can anyone advise of best/most reliable/successful site or company for selling Turkish property without an upfront fee?

Thanks again
P
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Old 27th June 2013, 20:30   #8 (permalink)
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Re: Mortgage problems

You should not be giving up front fees to anyone.
Sorry about your circumstances good luck.
Where about is it? Your place
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Old 27th June 2013, 21:12   #9 (permalink)
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Re: Mortgage problems

Hi we have a place on FCC if we can help in ANY way let me know Im out at FCC now till 8th July m8t
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Old 27th June 2013, 22:25   #10 (permalink)
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Re: Mortgage problems

Sorry to hear that Paul, it is a terrible situation to be in. Agree with the others though you do need very specifc advice on this situation. You need to speak with the bank first and have a plan for them, the maintenance fees could be 'frozen' and then paid out of the sale of the place, this can be agreed in writing and just becomes a interest free lien on the property. You should write to the bank first and therefore you are entering into discussions with them under the new legislation in Ireland. Bankrupcy in Ireland is very different to other countries and would affect you in many other ways. You could get free advice initially from MABS in Ireland which will help you look at the complete picture and get you set up to deal with the Bank so you do not feel so isolated in doing this. You also do not have to pay anyone up front for the sale of your place. If you would like to send me a pm I may be able to put you in touch with some supports that may help as I am based in Ireland too. Some times just knowing that someone else understands what you are going through may be of help. Do let us know how you get on and take up Graham's offer of help too. Just remember that at the end of the day it is only money and horrendous though that may sound, your health and happiness are far more important. There is a good crew here online so we will help or support where and when we can even if it only words. Good luck.
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