Saved from eviction… for now

Ronald de la Cruz addresses a crowd of activists who have turned out to help stop his family from being evicted from their home for failing to keep up mortgage payments. Ronald is a Dominican man who bought a flat in Villaverde Alto, Madrid, in 2004 for 216,000 euros. After losing his job in the construction sector, he was unable to keep up payments on the flat and the bank valued it at half its original price. This negative equity, plus interest and legal fees mean Ronald will still owe the bank thousands even if it manages to take back the property. On this occasion, the protest outside the flat persuaded the legal authorities to suspend the repossession for several days, just minutes after Ronald spoke to supporters. The PAH anti-eviction platform estimates that around 200 evictions are taking place in Spain each day.

By Iberosphere

• Squatting wave pushes for improved Spanish housing policy

Author: Iberosphere
Published: Feb 14 2012
Category: Videos
Republication: Creative Commons, non-commercial
Short URL: http://iberosphere.com/?p=5447
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Tags: bank reposession, home repossession spain, mortgage crisis, reposession protests, spain banks, spain evictions, spain mortgage, spain protests