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Bailing out (Walking away) from a mortgage

Discussion in 'Dubai property' started by samsaf, Feb 2, 2009.

  1. samsaf

    samsaf New Member

    Hi,

    While I can afford to pay my mortgage payments with no issues, I would like to take the opportunity of a upcoming depression to buy real-estate properties at a lower price tag. Even if it means that I would loss the down payments.

    I don't want to leave the country as I have a good job, in the same time, it is unlikely that I will be able to sell the property at a good price now.

    As I got 95% finance, I have 5% percent now and another 5% (as RERA payments and bank interest rates on handover)

    Do you know any good lawyer in the UAE who can help me in doing this?
     
  2. raakeshchawla

    raakeshchawla New Member

    Hi same here. I spoke to one of the lawyers, he said you cannot but I am sure they don't open their mounth without feeding them. I need help as well.
     
  3. samsaf

    samsaf New Member

    Raakeshchawla, if our cases are similar, we can go and consult with a lawyers as if we were together getting advice on a house which we have bought together. Thus slashing the consultancy price by 1/2
     
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