COTIZALIA newsletter as always is full of interesting news and we continue to reproduce many of its contents as follows:
The hardness of the economic crisis 620,000 jobs work destroyed in the last twelve months, is forcing thousands of households to break one of the strongest principles of economic literature: the last thing families stop paying the mortgage on your floor. Well, now, would have at least 80,000 families have left to return to your financial institution that lent them in their day to purchase a home with mortgage.
Data is extracted from a figure published by the Bank of Spain. Until the third quarter of last year, latest data, mortgage delinquencies related to the purchase of a home stood at 11.003 million euros. This represents an increase of 264% over the previous year, which gives an idea of speed that has caught the pace of deterioration in the ability to pay families. In relative terms, this represents 1.86% of total loans granted by banks to this end, nearly double the 1% that was recorded at the beginning of last year.
Data is extracted from a figure published by the Bank of Spain. Until the third quarter of last year, latest data, mortgage delinquencies related to the purchase of a home stood at 11.003 million euros. This represents an increase of 264% over the previous year, which gives an idea of speed that has caught the pace of deterioration in the ability to pay families. In relative terms, this represents 1.86% of total loans granted by banks to this end, nearly double the 1% that was recorded at the beginning of last year.
And we beyond these and other news that are discussed every day do we know someone who can not, which makes it untenable to continue paying the mortgage payment?
In our experience many customers in recent months have come to the bank to renegotiate their fees encouraged by the "news of the government" and come out with a "small reduction, but with a "huge increase" in their loan obligations. So much that it is not going to be no consolation to lower interest rates because the bank has increased the spread and other concepts so that when "touch review" everything is returned to the same or worse. And here is where the issue is the title of this post, perhaps the title is something disturbing and controversial but in some cases the reality is very stubborn.
the moment we'll leave it there but it is a matter that invites reflection and participation.
