Solving mortgage problems | Legal advice

Questioner

I have a mortgage with the SNS bank. Now after 8 years on the market, an offer has finally been made on my house €40,000 underwater. There are 3 options according to special management at the SNS: 1. Pay the difference yourself from your own resources 2. Taking out a loan for the residual debt 3. An interest-free debt with the most severe negative BKR registration My problem: Option 1 is also not feasible due to the lack of own resources. In 2006 I got a negative BKR listing. This was paid off in 2011 and the listing will finally be gone at the end of this year. Because of this listing I will not get any credit, so option 2 will expire. In 2007 I met my wife and now we have 2 wonderful children together. Since our marriage I have been living with her and I have my house for sale. The house was rented out for 5 years under the vacancy law, after which the permission to rent out expired and we have double housing costs. The situation: I am not allowed to rent out the house by the SNS bank. I cannot get a loan for the residual debt due to my BKR registration until the end of 2016, in short, if I sell now, according to the SNS the only solution is that I choose option 3 and that means that I will be stuck with a negative BKR for the next 7 years. I have always properly fulfilled my obligations since 2006 and now I do not want to get into the negative BKR misery again while I only want to sell my house :-(. It cannot be right that the bank is allowed to obstruct me in such a way that there is only one choice available that has so much influence on my life?

Lawyer

There are still a few options. 1. See if you could get a social credit through a city/municipal credit bank. These are at better rates than a regular bank. 2. See if you can get a loan through family and repay it on reasonable terms. 3. Enter debt counselling. You will then be on the minimum for 3 to 4 years, and if the bank does not want to cooperate in an amicable process, debt counselling can transfer you to the Statutory Debt Restructuring (WSNP) within a year. The bank is then obliged to cooperate and the chance that they will get anything is minimal. 4. Then there is another possibility to partially buy off the debt. Sometimes these possibilities exist. If you would like further help and/or advice in this regard, I can advise and/or assist you.

Questioner

Thanks for the advice. I'll look into option 1!