1 year ago

Answers to NHG and selling a house with remaining debt

In this video I want to tell you how you can save tens of thousands of euro’s, by having the right information about remaining debt and NHG. My name is Arno Wingen from Systeemmakelaardij and co-founder of huisverkopenmetverlies.nl. The reason I make this video is, I was at the TROS radar and RTL 4 broadcast as an expert in 2013. After this it seemed to go the right way with information services about the NHG by banks and money lenders. Only now it’s worse than ever.  Every week I experience people that are wrongly informed, people who borrow huge quantities of money at tremendous rates and are trapped in their own houses for years. Because they don’t know what is possible.
I wrote down a couple of things beforehand, for instance the day before yesterday. I had a phone call with someone who called his bank and asked: ‘’Hey I have NHG and I am perhaps unemployed in the near future, how do I proceed with my remaining debt?

The bank employer shamelessly replies without any data: ‘’Well the remaining debt is about 50000 euros and I think you are not eligible for NHG with a 99,6% certainty, but you must pay 500 euros each month for ten years. If you do this, you are debt free.If you sell the house feel free to  pass and we send a bailiff who will collect it and you may pay off your debt. This is crazy, because the person in question is if all goes well eligible for complete remission of his remaining debt by my calculations. But on the phone you get to hear from the bank employee, who should know it that you need to pay 500 euros each month for ten years. The story that you should give an irrevocable power of attorney to the bank, a while ago I had someone who was forced to sign the power of attorney and give the bank all the control on the sale, if he did this he would fully cooperate to NHG and receive remission for his residual debt.

The good man does as he is told, puts his signature. The bank ‘’relieves’’ the task of selling and sells the house. Four weeks later a letter from NHG: no remission, because you did not fully cooperate. The man complains because the bank took over everything and said it will all be alright. The bank says you should settle this with NHG. NHG says you should have been informed about this, it is a pity but it must be paid back.

People who borrow from credit card companies for 10,12,14% interest. People who pledge their wedding ring, people who go to private money lenders. All because they are completely wrong informed about the possibilities. Three days ago I had someone on the phone who got the advice from his bank. The bank said: ‘’Well, we will do it like this, you want to know how it is with NHG and if you receive remission. First we are going to value the house, you will receive a bill off 500 euros for this. After this we put it on sale and if you get a bid, we will look how it is with NHG. So you actually jump of a building and while you are half-way falling down, we are going to look how we will do it with the landing.

For clarity: you can know exactly how it is beforehand, you will get to know exactly if NHG gives you a go or a no go, if you can keep or sell the house when all is properly addressed. If all goes well you will get the valuation which is now being discussed compensated. NHG should gaurantee for this.

If you know someone in this situation, if you are in this situation yourself. Please contact, I am happy to help. Beneath this video is stated what you should do, to get this done. It is free, it is without obligations. It is great if you are helped by only the advice, so you can move on. It perhaps saves you years of your life, or tens of thousands of euros. If it turns out I can help you too, I will tell you exactly how that would work, what the costs are and you may decide yourself if it is something for you or not. But you will always be much wiser. So like the video, share the video and tell it to people you know with this kind of problem. Because it truly is a huge problem, people make extremely high debts everyday and we need to stop it.

2 years ago

Irrevocable power of attorney (3)

This is the part three, the last part of my article about why you should not sign an irrevocable power of attorney

Fairy tales, half-truths and lies.

When I ask people why they signed their irrevocable power of attorney, they tell me this:

‘’The bank told me it was required when selling a house with a residual debt’’

‘’The bank told me it was required by NHG, otherwise I would lose my right to remission’’

‘’The bank told me I needed to sign the power of attorney, otherwise NHG would not pay the agency fees’’

‘’The bank threatened to start a foreclosure auction if I did not sign the power of attorney’’

‘’The bank threatened to send a bailiff if I did not sign the power of attorney’’

Let us take a look at the facts

- No, you are not obligated to sign a power of attorney if you must sell your house with loss.

- NHG would never oblige you to sign a power of attorney and it has nothing to do with your remission.

- NHG has set standards for brokerage fees and they have nothing to do with the presence of a signed power of attorney.

- And no, you are not obligated to hand in your keys and give all the control to another party, a threat with a foreclosure auction or a bailiff changes nothing.

Are there situations where the power of attorney is the solution?

Perhaps yes. For instance, homeowners who can´t act independent. Or houses out of an inheritance which bring up complications for heirs, like making the sale.

But in most of the cases it is not clever to give all the control to the bank. Especially with no way back!

The danger of an irrevocable power of attorney

It is easy to see if you look at the owners who were unpleasantly surprised, after signing the power of attorney.
The owners were never told they did something wrong, like not obeying the rules or that their full cooperation was in danger.
They were told when it was almost too late. I deliberately say almost, because there was a possibility of objection, against the decision. But it is better to prevent something than to recover from it.

All progress was brought to a grinding halt for the owner who still needed to sell his house, when his signature was put on the paper.
The power of attorney was given and the money taken. He was ofcourse urged to keep on paying when the bank dawdled.

The power of attorney was presented as a gift which spared time, effort and energy. But like your mother told you: ‘’If something is too good to be true, it is not true’’. 
A few oversized glitches are hiding under the power of attorney.
So if you are in a loss situation, do not just sign. You will probably lose more than you will win.
Nobody cares as good for you as you do. Even when the bank has the best intentions, she will always look at the benefit for the bank first. Your interest is second. That is not good or bad, it is just the way it goes. So keep it in mind.

If you have any questions about selling your house, selling with a mortgage debt or other related affairs, please contact me or leave a comment below this article.

Arno Wingen


2 years ago

Irrevocable power of attorney (2)

This is part two of my article which consists of three parts.

Your house gets sold, the bank gives approval and you visit the notary. Perhaps you doubt a bit before you sign the paper. It it going to be alright with the mortgage debt? But probably you are so happy you can continue with your life, that the doubt dissapears rapidly.

After the liberating transmission, the bill arrives a few weeks later. It is a letter and contains the following information:

Based on the terms of the remissions regulation is the resulting debt not forgivable.

Most of the times it comes with something like this:

2. Is full cooperation granted to avoid or limit the loss?
This is the case when a house is sold underhand and full cooperation is granted to limit the loss.
The WEW determines the house is sold underhands, but there is not been a full cooperation granted to avoid or limit the loss.

What are the consequences for you?
You must pay the loss back

You will receive information about the height of your loss and how you can pay this back as soon as possible.

That letter has as much effect on your good mood as a needle on a water balloon.

Everything went right concerning the selling of the house, with the customers who received these letters.
They just waited for five months, a very slow handling. They were told a power of attorney was required, that they should cooperate and this was the best solution.
Untill the customers after the sale were suddenly being blamed, by a lack of good faith and cooperation. No warnings beforehand. No clue during the sale itself. All communication was settled for them by the bank.

They went to the bank with their  bad news and the bank told them this: ‘’Yes, indeed it is very frustrating for you, but in our dossier it is handled, so you need to contact NHG. Have a nice day and good luck!”


2 years ago

Irrevocable power of attorney

Why you should not sign an irrevocable power of attorney..
…Especially when the bank says they do it only to help you

This is the first part of a translated article. The full article on dutch is already available here: systeemmakelaardij.
Peter gets into the unemployment law due to a burnout. In a short time he loses almost 800 euro’s income. In an instant the charges are higher than his income.
Luckily he made a deal with NHG, so he calls to ask what he should do. Despite being not his fault, he is in a situation where a mortgage debt is emerging. Exactly the situation NHG is meant for.
NHG tells him to make contact with his bank. On request of his bank he hands in his financial records, nothing happens after this.
For a period of five months nothing happens at the bank.
The situation is getting worse, so Peter calls the bank on a weekly basis. He always gets the same answer: ‘’You are obligated to pay and you must pay.’’
When he asks for a solution, or if NHG can help him he gets a snappy answers: ‘’No sir, your situation is not serious enough.’’
So peter keeps paying. He sells his car, furniture and even his wedding ring. Every month it gets harder to pay. Peter fears the calls of the bank telling him to pay as soon as possible.
But after five months the bank has great news. Peter’s situation is miserable enough to do something about it.
The bank wants to help Peter now, to sell his house. They only help him if he signs the irrevocable power of attorney.
Psychologically beaten and no more things to sell, Peter is capable of anything to book progress. He signs the power of attorney and then something happens you may predict. Precisely. Nothing.
Another five months pass and a broker is asked for help. His house gets on the internet almost two months later. In the meantime Peter calls with his bank again and again, booking as much progress as a dog chasing it’s own tail. The bank points to NHG. NHG points to the broker. The broker points to the bank and so the frustration circle becomes complete.
The worst part is Peter could have sold his house a hundred times by now. Without having to sell his wedding ring, if he only had the right information.
That is why I want to make clear to you through this article, why you should NOT sign a irrevocable power of attorney.
The reason is simple:
‘’Nobody cares as good for your own well being as you do.’’

New on TellSell: ‘’The irrevocable power of attorney.’’
The power of attorney was already signed, so Peter didn’t have the chance to call in external assistance. When signing the paper he gave away all control, leaving his fate in the hands of the bank.
Yes, indeed the same bank which told him for months he must keep on paying. Without even a glimpse of a solution. 

Banks ask more often for an irrevocable power of attorney. The reason so many people sign it: they bring it real neat.
Imagine you see a financial loss coming. You call your bank to discuss the opportunities. They connect you with the department particular management and the collaborator tells you in a sinister voice: ‘’Ok, you can sell. Give us all the control over it, the income goes to a notary we pick to sign a paper which says: you can never return this action. Mwuhaha!’’.

Probably you would think it over. But what you just read is the essence of a irrevocable power of attorney. Except for the devilish laugh. That was for the effect.

But it is not the way they bring it ofcourse. They sell it to you in the same way as the magical Tell Sell commercials, claiming to lose weight while eating a mix of chips and guacamole while sitting on your couch.

‘’Oh, a sell with mortgage debt? We have a solution! I will send you the address of a notary in your neighbourhood. If you sign the paper there, with a short declaration we will settle the sale of your house. We arrange a broker and everything will be alright’’.

If they bring it to you like this, the decision is easy. Ofcourse you sign the paper! No headaches because you don´t need to do anything yourself. You sign the power of attorney and know the sale is in good hands. They know everything about NHG, so you don´t need to think about that either. They do it more often than you do, right? Can’t get better!

2 years ago

How NHG works.

How NHG works.

Who is this guy? And why can he give answers you will not get elsewhere about NHG?

My name is Willem Nijs. Since 2008 I specialised myself in finding solutions to loss files in every possible situation. For people like yourself. Houses sold for less than the mortgage debt, because the value is less than the debt.

Maybe you've seen me or my collegeau in magazines, or on television. A lot of people know huisverkopenmetverlies, thanks to the TROS radar broadcast. Yes we have been on the news, being interviewed about the new NHG regulations. Because we are on of the few companies that stand up for consumers in this situation.We are often called by journalists, to tell more about our experiences in loss cases.

What you should do now?

Grab a cup of coffee. Make sure you will not be disturbed in the next hour. Turn your telephone off and lock the door. Read this file. Add value to yourself. Maybe I can help you, maybe I can not help you. I want your situation to improve. Hopefully the following will help you.

Why does nobody know how it precisely is with NHG?

I was standing in the middle room of my office. On the other side of the telephone was Niels van Nimwegen, journalist at TROS radar. He came to us, because nobody else could give him clear answers to his NHG questions. He had the same questions you most likely have now.

When do you get remission?
Why can nobody give me an answer beforehand?
Why is the bank being so difficult about simple questions?
What is the best I can do in my situation?

Niels is a skilled research journalist. He knows where to get information and answers. He knows experts in almost every niche. But when I talked to him, he admitted he could not find clear answers and asked himself: If I can not find the right information, while doing it full-time as my job, how much harder is it for consumers to find the right information?

I will soon give you the answers, in my next post!




2 years ago

Welcome to my blog

Hello, my name is Arno Wingen. I live in the Netherlands, Maastricht. I am the CEO of Systeemmakelaardij. I made this blog so I can share my knowledge of the housing market. I am already in this sector for 12 years now and still doing great business.
What I want to share is base knowledge so everyone has a good picture of what the housing market really is. It bothers me that a lot of people are out there on the internet, giving the wrong information. If you are in the situation you must sell your house with loss, you are not the only one. The problem is, when you are in the situation it is very difficult to find trusted information. You find a lot of information what people have heard, from others. People who tell you how it approximately is, but when it comes to so much money, approximately just isn’t enough.
You want to know it exactly and this is also the main reason why we established huisverkopenmetverlies (sell your house with loss). On the site you find information about a lot of situations, with a lot of different banks. Probably you will find your situation on our site. What is more important, the information you see is based on more than a hundred succesfully completed loss files. Based on our real life experiences. Not on what we think. On what really is.

Keep an eye on this blog, I will post my translated content to this site.