Court ruling frees Spanish mortgages from legal purgatory

spanish houses 2
By Tom Brown
17 Sep 2019

A recent Spanish Supreme Court ruling on NPL foreclosures will help buyers of poorly performing mortgage portfolios avoid years of potential legal proceedings.

The Supreme Court gave guidance to Spanish national courts, allowing the courts to enforce foreclosure after borrowers have missed 12-15 monthly payments.

This is longer than some investors had been hoping for, but diminishes litigation risk, as an initial European Court of Justice ruling meant that investors ...

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