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Spanish Property Trader Blog; November, 2008 Archive; Spanish Property Trader Blog | 11/18/08 00:56
What good is asking for mortgage payments when the person you are asking payments from do not even have a job to support his/her basic needs?The Spanish government recognizes this, as it now introduces a new scheme to stimulate its economy and give jobs to the jobless. This scheme will allow jobless homeowners to defer their payments, and give incentives to companies that will hire the jobless. Link: Spain to let jobless defer mortgage payments - International Herald Tribune
Tags: defer mortgage payments • real estate welfare • jobless •
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11/06/08 09:53
Savings banks and unlisted saving banks here in Spain cannot be spared by the housing bubble that burst last year, since they are exposed to mortgage home buyers and ailing construction developers. It's a double whammy, if you will look at it. It is expected that this tangle of bad loans to solve itself in around 5 years.Link: Spain's real estate debts batters banks - Property Week
Tags: real estate debts • housing bubble •
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