03.07.09 - 12:47 -
Families are finding it impossible to meet the costs of running a home. / SUR
Families in Malaga are finding it increasingly difficult to meet the costs of running a house and paying a mortgage on a small budget. This is reflected in the number of cases of mortgage default being brought against homeowners in court.
From January to June this year judges have had to deal with 700 cases, which translates into the repossessing of nearly four houses a day by the bank. The figures for the first half of the year are almost the same as those recorded in the whole of 2008, when 850 properties were seized by the bank.
A Malaga judge explains that this trend is likely to continue, or even get worse, if the employment prospects do not improve in the next few months. In cases of default, the procedure followed by the banks is to wait three months before seeking legal action.
It is not only homeowners who are failing to pay. Tenants living in rented properties are also having a hard time paying their rent. Some 643 eviction notices were issued in the first six months of this year which is 30 per cent more than in the same period in 2008.
From January to June this year judges have had to deal with 700 cases, which translates into the repossessing of nearly four houses a day by the bank. The figures for the first half of the year are almost the same as those recorded in the whole of 2008, when 850 properties were seized by the bank.
A Malaga judge explains that this trend is likely to continue, or even get worse, if the employment prospects do not improve in the next few months. In cases of default, the procedure followed by the banks is to wait three months before seeking legal action.
It is not only homeowners who are failing to pay. Tenants living in rented properties are also having a hard time paying their rent. Some 643 eviction notices were issued in the first six months of this year which is 30 per cent more than in the same period in 2008.
