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14 August, 2009

Dear readers;

Yes! as announced! We have moved Town-Crier to new servers, with a new look and comming soon new features, articles, writers, and lot’s of juicy info!
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6 August, 2009

The Poor Man’s Solution

Mike Walsh

Handing in the keys by hard pressed homeowners unable to meet their mortgage payments can lead to collateral damage that worsens the problem.  The banks, the biggest unwilling estate agents in the UK and Spain are not happy. Repossession proceedings are time consuming and expensive. The procedure can take up to three years and there is the additional haemorrhage of lost interest and legal fees.

The legal procedure known as a Dación en Pago may be a better option for the defaulter who may otherwise face years of legal wrangling and even bankruptcy: The outstanding mortgage is still an obligation as are the additional costs in the event of default.

Put simply it means surrendering the keys to the bank by formal declaration before a notary. In return the bank agrees to cancel the balance owing and release the mortgage holder from further liability.


The credit consequences of the cancelled debt do not transfer. If the defaulter returns to their own country they can start off with a clean sheet.

The Dación en Pago is established by Article 1.175 of the Spanish Civil Code (SCC) and the transfer, unless otherwise agreed, is limited to the value of the mortgage which corresponds to the value of the property. In other words if the outstanding mortgage is 100,000€ but its value is only 80,000€ there will be a shortfall of 20,000€.


There are three important requirements for the Dación en Pago to be acceptable: The borrower should not have already defaulted. The lender should not have already commenced repossession proceedings. Thirdly, the property should not be in negative equity exceeding (as a rule of the thumb) 20 per cent if it is to be considered.

There is no obligation on the bank to accept the Dación en Pago solution but there is equally good reason for their doing so. As commonsense suggests these procedures must be conducted by legally qualified professionals.

Turn your house into income


1 August, 2009

The El Mundo daily newspaper has been running a series of surveys of its readers to find out what they think of various aspects of national life at the end of the first 30 years of democracy. Some of the results have been very damning, but it’s doubtful that the politicians will take much notice of them. Contrary to popular belief, the Spaniards are not indifferent to corruption in high places and know exactly where to place the blame: Socialist politicians, local builders of all political parties and local councils of all political hues. More than 27% said the current Socialist government was more corrupt than the first one under Felipe Gonzalez (24%). Only 14% said the Partido Popular government headed by José María Aznar was corrupt. More than 62% said the politicians were the most corrupt, followed by the judiciary (14.4%) and the media (9%). As for politicians, the most corrupt were those in local government. On the economic front, nearly 60% thought the construction was the most corrupt, followed by the banks (18%). Nearly 80% want to Constitution changed in order to put limits on the nationalist parties while at a local level, the party that gets the most votes should form the local council, doing away with alliances between minority parties. And two thirds of those question said they did not believe that the whole truth about the 2004 Madrid bombings had been told.


27 February, 2009

I would just like to introduce the readers to my new website,

please analyse it, and check out my youtube videos and post your comments

here, thanks


27 February, 2009

Letter from one of our readers:

I have worked in customer service for over 12 years of my life.
I new I had seen it all but its different working in customer service than being a customer that requires service.

My experience at the NIKE store on line gave me a new meaning of customer service.
At my former employers we were always told to go above and beyond to help the customer and as well make sure we rectify a situation especially if we can see that it is our fault.
Obviously NIKE does not operate on the same code of ethics.
Its bad enough that this is the same company that was underpaying overseas employees that were children
but to also give bad customer service after rebuilding your name is really not the smartest thing to do.
My experience with NIKE has been the worst experience involving customer service in my life.
I went to NIKE’s website NIKE.COM and ordered a pair of shoes as a gift for a close friend of mine but I put in the wrong size.
Read Whole story here:


12 November, 2008

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10 November, 2008

When Andalucia’s regional television channel, Canal Sur, recently advertised 112 jobs in different departments, it received an astonishing 18,700 replies. A third of the openings are for receptionist-telephonists, gofers and administrative clerks while another third are distributed among production, the newsroom and scriptwriters. The rest are for technicians, cameramen, and maintenance people. Job interviews began last week at the Congress Centre in Seville.