(English) March 31st, 2012
The number of people being evicted from their homes in Spain has jumped to a new record, with the judges granting embargos against 58,200 families last year, 22% more than in 2010.
The numbers have put the matter at the centre of the political debate, and the Government has brought out ‘a good conduct’ policy for banks to follow.
It gives the banks three possible alternatives – restructuring the debt, writing off part of the debt, and accepting the return of the property to clear the debt.
There are also possibilities of the bank then renting the property back so there is no eviction.
Unfortunately that arrives too late for last year’s evictions, and since the recession started in 2008, a total of 166,000 families have lost their homes. The number includes both those who cannot pay their mortgage and those who cannot find the rent.
The regions most affected are Cataluña, Valencia and Madrid.
Source: Typically Spanish
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