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I Bought a house in France in November 2007 with a mortgage…

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I Bought a house in...
I Bought a house in France in November 2007 with a mortgage of 141000 euros over a 15 year period. Because of medical expenses and one off expenses in 2008/9 I got into serious arrears of 12000 euros with penalty charges of a further 9000 euros. The exchange rate problems only added to the problem. The bank I had the mortgage from only came up with one solution which was to pay a one off amount of 2000 euros and an additional monthly payment of 600 euros plus the normal mortgage payment of 1233 euros. I could not afford this and asked them for other alternatives... they never replied but I was told my case would be sent to their legal department in early 2010. Ever since February 2010 and after the previous one off expenses had ceased I have paid the mortgage on time and in all cases a little more than required (between 40 and 110 euros extra). In December 2010 I was served with documents for full repayment of outstanding mortgage plus charges although the figures shown were for May 2010. I have now been served with a document for a court hearing on the 11th April.
The property is on the market and has been since mid December with two estate agents marketing it in France, UK, Holland, Belgium, Germany and Skandinavia. Also it is being advertised online paid for by us. My French lawyer seems very confident that the court will grant us extra time to sell the house and not be forced to sell.
Please would you give me your views.
Submitted: 7 years ago.Category: French Law
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Answered in 1 hour by:
3/27/2011
Barrister: TKenney, Ph.D., French Attorney (Avocat à la Cour) replied 7 years ago
TKenney, Ph.D.
TKenney, Ph.D., French Attorney (Avocat à la Cour)
Category: French Law
Satisfied Customers: 831
Experience: Practicing law in France, 10+ years of experience on Paris Bar. Taught French Business Law in US
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TKenney, Ph.D. :

According to the information you gave me, you will be attending a French orientation hearing (audience d’orientation) following the request for a foreclosure sale (saisie immobilière) by your lender.


In French law, a request for a foreclosure sale (saisie immobilière) may have one of two outcomes:


- the public forced sale of the property or


- the private amicable sale of the property.


The type of sale, “forced” or “amicable,” will be fixed by the judge during the orientation hearing.


 


If after the orientation hearing the judge orders an amicable sale, then he/she will give you enough time to sale the property, and the sale will take place before a Notaire under the control of the Judge. The judge can grant an extension if needed.


 


The judge can also order the forced sale of the property at a public auction. However, if your French lawyer seems very confident that the court will grant you extra time to sell the house and not be forced to sell, then he must feel that you have a strong case. However, nothing is certain. If you have a potential buyer who is ready to sign the deeds, this could make your case very strong in favor of an amicable sale.


 


The Orientation hearing will also include deciding on any disputes raised by the debtor. If the debtor wishes to contest the foreclosure, it must be represented by a lawyer registered before the Tribunal de Grande Instance. If the seizure is not disputed, then the debtor may appear in person without a lawyer.

Customer:

Many thanks for your reply and your help.

TKenney, Ph.D.
TKenney, Ph.D., French Attorney (Avocat à la Cour)
Category: French Law
Satisfied Customers: 831
Experience: Practicing law in France, 10+ years of experience on Paris Bar. Taught French Business Law in US
Verified
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