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Patras: Property Owner Hands Out Home-Keys to Bank

A man entered a local bank branch in the city of Patras, western Peloponnese. He was holding the keys of his home, which he had bought with a loan mortgage of 300,000 euro. He neared the branch director and left on his desk two keys. when the director asked “What are these?” , the man replied: ” I hand out the keys of my home. As things have come, it is in my interest to give you back the house and rent right next to it. My home’s value has dropped from 300K down to 150K. I am asked to pay back to you the double, property taxes are hunting me and I have no euro to come along. Take the keys and do with the home what ever you want!” 

The incident took place in front of the stunned bank employees and customers.

It has not been known whether the bank director kept the keys. Most likely, he didn’t.  I assume this is bureaucratically impossible, as it is to repay your whole debt at once, in case you have become a millionaire through a lottery win.

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  1. The problem is of course the bank will sell the house (and probably not get much for it), but the owner (that was), will still be liable for the full repayment of the initial loan…….