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Dutch mortgage shortfall... Now back in the US

Discussion in 'Other Debt, Collection, Garnishment' started by John Schmidt, Aug 7, 2015.

  1. John Schmidt

    John Schmidt Law Topic Starter New Member

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    Hello all,

    I'm a U.S. Citizen returning soon to Texas after several years in Europe. I bought a house in the Netherlands in 2008 right before the credit crunch. I'm now unable to keep up with the mortgage repayments while the house has lost 20% of it value. I'm trying to settle this with the bank but it doesn't seem they want to settle the shortfall. Will they have the means to chase me in the U.S. and in Texas? Thanks in advance for your help.
     
  2. ElleMD

    ElleMD Well-Known Member

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    If you want us to predict what a foreign bank will do, you are asking too much. Your debts do not magically disappear because you move.
     
  3. Betty3

    Betty3 Super Moderator

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    There is no way we can predict - they "might" not bother. However; if you return to the Netherlands, they most likely will pursue.
     
  4. army judge

    army judge Super Moderator

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    Talk to a bankruptcy lawyer how a BK might be able to protect your assets in the US.

    GENERALLY speaking, unless you attempted to buy a multi-million dollar mansion very few European banks would chase you in the US, especially Texas which is very debtor friendly.

    The cost of pursuing a $200K Eurohome is quite prohibitive. They might sell the paper to a debt scavenger who'll delight in hounding you attempting to scare a few quid outta you.
     
  5. jeffgeiko

    jeffgeiko New Member

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    Hi John,

    Have you returned to the US? Have you managed to find a solution!
     

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