Home mortgage question? Will the bank reimburse the amount we paid them in our mortgage?


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Hello, we have a house in Milan Italy and my dad is paying for the house. We mortgaged the house in 2004 for 20 years and so far we have paid them around 50,000 euros without the interest. For my college education we need money and with this economy and the housing market we cant have a reasonable price to our home...


Banks in Milan, IN



Answer (1):

 
volcanoking

Usually the banks will never reimburse the money back to you. It is not possible. There is an option that you can try to sell this property and so the buyer will pay the dues with the bank and the balance (if any) will be paid to you. By this, you will be free of debts and interest. However, you can call at the bank and ask a special request which they may consider. But the chances are very very less.

 

Relevant answer in Milan, IN