Spanish mortgage arrears increase in June

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    • #54254
      rt21
      Participant

      Seems the economic downturn and credit crunch in Spain is beginning to bite. Just like the UK I suppose

      see link below

      http://www.bloomberg.com/apps/news?pid=20601206&sid=aUwJmHMs.VHg&refer=realestate

      Richard

    • #85779
      mike
      Participant

      @rt21 wrote:

      Seems the economic downturn and credit crunch in Spain is beginning to bite. Just like the UK I suppose

      see link below

      http://www.bloomberg.com/apps/news?pid=20601206&sid=aUwJmHMs.VHg&refer=realestate

      Richard

      There must be a significant number of these loans in the UK and it will be interesting to see how they go after people. I imagine the Spanish government will ask for restraint when chasing Spanish citizens for money but they can’t really ask the same for foreigners. Would they care?

      On the other hand, I assume that the Spanish banks will have to recover their debtors through the British courts, could those who feel they have been cheated argue this successfully in the British courts? That would be very interesting.

    • #85781
      Anonymous
      Participant

      “I imagine the Spanish government will ask for restraint when chasing Spanish citizens for money but they can’t really ask the same for foreigners. Would they care? “

      The foreigners will be treated as being greedy & be thought as speculators. Besides this is perfectly, legal & legitimate grounds to cream off the equity that the foreigners have invested when they bought a property in the first place.

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