Bailing out (Walking away) from a mortgage

[samsaf]

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?

 

[raakeshchawla]

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.

 

[samsaf]

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.

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