Irish Central Bank

United Kingdom. The process for evicting a person can be long and fraught with appeals by both parties. The credit institution is obliged to sell the property at the best price, but if the sale does not cover funds they must raise, will happen then the difference of the debt to the to the mortgage. If the person can’t pay what you owe, you can always declare bankruptcy. Ireland. The majority of mortgaged housing evictions occur on a voluntary basis, according to data from the Irish Central Bank (ICB). Day today, the Bank and the mortgage deals with this issue through the so-called process of resolution of mortgage debt (MARP), designed by ICB and on many occasions resulting in the restructuring of the debt or the enactment of the housing to avoid a lengthy legal process of eviction.

Holland. After four months of non-payment of the mortgage, the Bank gets in touch with the person who has signed the credit and if there is perspective that will improve the financial situation of the owner, is usually agree on a transitional measure of payment which is temporarily lowers the income. In extreme cases, the same owner is selling the House or, if not, is the Bank who auction, a method through which the debt is settled. United States. Yes There is the dation in payment, but legislation varies according to the States and there are many exceptions to the rule. In some cases, if the resale or auction of the housing does not cover the accumulated debt is to confiscate other property of the debtor. In addition, the debtor can enter part of a list of defaulters who will almost impossible for years access to any type of credit.