Crisis: Spain; fund for evicted families constituted

Formed by 33 banks; 5891 homes made available

18 January, 13:42

EVICTION OF A FAMILY IS AVOIDED IN NAVARRA [ARCHIVE MATERIAL 20121126 ] EVICTION OF A FAMILY IS AVOIDED IN NAVARRA [ARCHIVE MATERIAL 20121126 ]

(ANSAmed) - Madrid, January 18 - A fund became operative on Friday in Spain aimed at helping hundreds of thousands of families facing eviction due to mortgage default. The social fund, underwritten by 33 banks and aimed at providing rental assistance to the evicted, is one of a series of measures planned by the Spanish government to tackle the crisis created by hundreds of thousands of families unable to pay home loans. The new social fund will provide housing for 5,891 families.

In the last four months, eight people have committed suicide due to eviction proceedings after falling behind on their mortgages. The law decree approved by the Spanish congress on November 29 called for the constitution of the fund, and was among a series of assistance measures for the evicted, including a provision that freezes provisions for two years.

According to the Spanish minister for the economy and competitiveness, Luis De Guindos, at least 120,000 families in Spain have all the requirements necessary to access the benefits foreseen by the decree, even if De Guindos says the eviction phenomenon affects 600,000 families. The deputy prime minister, Soraya Saenz de Santamaria said the fund "permits a response to the dramatic situation of many families which are suffering the hardship of an excessively long crisis." "A lot of people, (once) had faith in the future and with two incomes bought a home," added Saenz de Santamaria, "Then, however, the crisis arrived and there are those who lost work, and then also the home. The fund must serve also to restore the faith of the people." (ANSAmed)

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