Monday, November 12, 2012

All over

"MADRID—Spanish government and opposition leaders are moving toward an agreement to loosen century-old housing-foreclosure laws amid an uproar over the suicides of two homeowners who were facing eviction.

The public backlash prompted a savings bank in the Basque Country, Kutxabank, on Saturday to say it would suspend foreclosure proceedings against homeowners' primary residences until there is more clarity about the new mortgage regulations.

Leaders of the governing Popular Party and the opposition Socialists were to meet Monday to begin hashing out a bipartisan deal to change Spain's mortgage laws, some of which date to the early 1900s, leaders of both parties said. One idea under discussion, they said, would temporarily halt home-foreclosure proceedings against people in the neediest circumstances; another would allow more leeway for all debtors to renegotiate mortgage payments and stay in their homes."

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