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Evictions rise in Spain

Source : IANS
Last Updated: Fri, Dec 28, 2012 04:50 hrs

Madrid, Dec 28 (IANS/EFE) Eviction proceedings in Spanish courts rose to a record 49,702 as of Sep 30, up 15.9 percent from the same period in 2011, authorities said Thursday.

Total evictions so far in 2012 have topped the 47,809 registered in all of 2010, the Judicial Branch General Council figures show.

Evictions rose 15.9 percent in the third quarter, compared to the same period in 2011, but they fell from 18,668 in the second quarter to 12,610.

The economic crisis that hit Spain in 2007 has resulted in a severe recession and an unemployment rate of more than 25 percent, forcing many families and businesses into foreclosure.

Borrowers unable to make their mortgage payments often end up losing their homes.

Prime Minister Mariano Rajoy's government approved a measure that halts foreclosures affecting those deemed vulnerable for two years.

--IANS/EFE

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