Please help advice needed re property

[keo]

Make an inquiry at your local police station via phone or in person and find out if a civil debt can follow you across the pond.
Might mean your a civil debtor in Spain but not a criminal if you catch my drift.

[galeras1]

If you default on the mortgage the house is siezed by the bank and then sold by a closed market to select estate agents who will pay a ridiculously low figure for it.  You remain liable for the balance plus interest plus costs.  You could end up in even worse poo.  As above, speak to the Bank and consider renting to defray costs.

[adasingleton]

This problem is just like our friends .You need to discuss it with your bank for a payment option which would be ok with both parties and stick to it not contacting them will just make it worse ,paybe you could rent it out as part of the monthly payment.If the bank take the keys back they will sell it and you will have to pay the difference and costs and they will chase you in england .You are not the first and properble not the last but you have to sort it with the bank hope this helps and good luck .

[zillmiff]

Please can anyone help or advise me.  I own a property which I can no longer afford to pay for, I am currently in the uk and  dont know what to do.  I have a large mortgage of 175,000 euros, and am having absolutely no luck in selling it.  I really just want to know how to get out of this mess.....  I did put 100,000 euros down to buy the house and know that this money is probably lost forever now.  All I am worrying about is the current mortgage payments, can anyone advise me firstly on how to get the bank (banco de Valencia) to switch it to interest only and if it is possible and if it will actually make a difference to the payment amount, secondly if I simply stopped paying and handed the keys into the bank, what will happen, will they chase me for the money outstanding on the mortgage?? and what will happen to me...please help someone