NEW BANK ABUSES!!! NOTICE TO NAVIGATORS
The Supreme Court has recently been denouncing a new fashion
bank abuse. Financial entities that have required life insurance for the granting of mortgages, and, when a death occurs, "disregard the insurance" and activate the foreclosure due to non-payment, without waiting for the heirs to collect the insurance and service the mortgage .
These situations are difficult to tackle, with current legislation, unless the insurance is amortization, (the beneficiary is the bank itself), in which case, despite this, the entities follow the same policy.
For this reason, it is relevant to move quickly, and ask for the advice of your lawyer to avoid situations of abuse, difficult or more expensive solutions.