Mortgage termination letter

It informs you that they give up on your loan and you become a “bad payer” – When you miss a loan payment, and more precisely, if your payment is more than 180 days late, the bank has the right to invoke it as the cause of termination of contract for breach of an essential term within the meaning of Article 1453 et seq. of the Italian civil code. The bank will also be able to invoke the judicial termination of the loan contract if you miss the loan payment more than 7 times, if your payment is more than 180 days late and, obviously, if you miss even just one of the agreed instalments. In all these cases the Article 1819 of the Italian civil code remains fully applicable: they can ask you the payment of the entire amount of the debt if you miss even just one of the agreed loan instalments, without resolution of contract.

2016-09-16T16:47:45+00:00