Support our non-partisan non-profit newsroom 💜 Donate now
European Debt Crisis

Spain’s banks to suspend foreclosures for the needy

Tom Burridge Nov 16, 2012
HTML EMBED:
COPY
European Debt Crisis

Spain’s banks to suspend foreclosures for the needy

Tom Burridge Nov 16, 2012
HTML EMBED:
COPY

The Spanish Banking Association is suspending foreclosures for the neediest homeowners just a week after a woman committed suicide when officials arrived at her apartment to seize it.

Households earning less than $2,000 a month will be spared, as will those with young kids or disabled family members. The rule changes come as Spain’s banks, which have foreclosed on many homes, are receiving billions of dollars in bailout money.

And that’s why Carlos Cue, from Spain’s El Pais Newspaper, says the banks had to act, “We are giving our money to the banks. The minimum is that we want back some solidarity from the banks. And some changes, big changes.”

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.