Imposed Universal Liability is decreed replacing limited liability which the Mortgage Law provides for in its Article 140. The debtor was not informed of the possibility of this type of mortgage. And in case he had been informed, he would have chosen the option mentioned in Article 140 of the Mortgage Law.

A late fee of up to 30% of the borrowed capital is set generating a false belief in the consumer that his monthly fee is lower than it really is, as it is actually deferring each mortgage payment by 20 or 30% of the borrowed capital; the percentage of which generates interest until the end of the term which is then paid in the final installment at the end of the mortgage’s life, and possibly that of the mortgagee who, at a great age, and probably with lower economic capacity has to face a “super fee” if he does not want to default on the contract and risk the bank  demanding foreclosure proceedings after having complied on time with mortgage payments for 20, 30 or 40 years.

This clause, by not having duly informed the consumer, has to be considered unfair, because if the borrower had known that the last installment represented such a high percentage of the borrowed capital he would not have signed up for  this type of mortgage.

Compensation Agreement:- Stipulation which decrees that it is expressly agreed (absolutely nothing has been expressly agreed) that the financial institution is irrevocably authorized to offset the amounts due at any time with any favourable balance that may be held, in whatever way, and with any type of document, and even when the lawful holder of the deposits could be under joint ownership.

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