A
Ashlingfps
Guest
Hoping for some sound advice please. We bought an apartment in Tallinn in 2007, however, last year we were had to put it on the market for sale at a massive loss - it had had a tenant but the gap between the dropping rent and increasing interest rate on our estonian mortgage just grew and grew. Our outstanding mortgage at the time was just under 80k - our asking price started out at 85K and eventually dropped to 80k - this was being handled by an agent in Tallinn that had been managing the rent of the apartment. However, the apartment was for sale for almost a year and the bank grew impatient with us and called the bailiffs in. We had a firm offer of 75k on the apartment but the bank insisted on proceeding with the bailiff and an auction. The sale price was set at 75 and sold immediately at the auction. However, this left a balance of 11k - 5k of a mortgage and 6k of bailiffs fees. We had one communication from the bank after the sale advising us of the outstanding monies and nothing since until yesterday when I received a european order for payment through the high court yesterday for the outstanding amount of €11k to be paid in 30 days. Can anyone tell me what my options are in this case - I am annoyed that the bank proceeded with the bailiff incurring massive fees when we had an offer on the apartment. Should I try to negotiate with the bank (swedbank, estonia) or am I off to the credit union for a personal loan for 11K?