Nearly 40,000 homes seized in Spain in 2012

Rasa – Spain central bank reported that a total of 39,167 homes were seized last year after homeowners were not able to make payments.

News ID: 253

Date: 12 May 2013 - 19:22

Rasa News Agency Reports – In a report published on Friday, Spain’s central bank has reported that nearly 40 thousand homes were seized last year after homeowners were not able to make payments.

According to the report, a majority of 83 percent of the homeowners that is 32,490 families were living with their children. More than half of these families that is 20,972 have voluntarily given up their home for not being able to pay the loan.

The country’s central bank has also acknowledged that in 18,195 eviction cases, banks themselves took action through evacuation order, 464 of which took place by police forces’ oblige because the owners refuse to leave their homes.

Spain is struggling with a double-dip recession caused by the property collapse in 2008, which has caused the unemployment rate to rise to record 27 percent.

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