By Euro Weekly News Media • 04 April 2012 • 14:58
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AROUND 300 mortgage holders’ a day are evicted from their homes through default on repayments.
This is according to Manual Pardo, President of the Association of users of Banks and Insurance (ADICAE) and according to Spanish law.
And the nightmare doesn’t end there.
Although no longer the legal owner of the property, the debtor is still responsible for repaying the full balance of the mortgage with interest.
Since the 2008 property crash, more than 300,000 have been hit with this double whammy and although central government are looking to offer greater protection to property owners, thousands of families living on the precipice of their financial commitments, still face the horrific dual possibility of being homeless and also hopelessly in debt.
Denia council is very much aware of the situation and has launched a new help and advice service available to all citizens who find themselves on the brink, or in, this unenviable situation.
The Municipal Housing Service located in Ronda Murallas, 42, will be open between the hours of 11am to 2.00pm on Mondays, Wednesdays and Fridays for free advice and guidance.
By Benny Davis
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