Sonia and Paco are a young couple with two small daughters. Some years ago,
when both had jobs, they bought a home, worked, and made their mortgage
payments without any problems for 5 years. Then the crisis hit, Spain’s
unemployment rate soared to 25%, and both of them lost their jobs. After some
months, they were unable to make the mortgage payments and the bank foreclosed
on them. But because of the fall in property prices, their debt exceeded the
value of the house, and so the bank is trying to collect the remaining debt of
35,000 EUR by garnishing part of Sonia’s parents’ pension—they had
co-guaranteed the loan when the mortgage was taken out. The couple and their
daughters now live with Sonia’s parents, but with the bank’s demands the entire
family is on the verge of falling into extreme poverty. Supported by a local
NGO that campaigns against the banks’ predatory practices, they have set up a
camp outside the BBVA branch next to the Mercado Central. I went there
yesterday to have a look and a chat and to document it. They have now been
there for 28 days. Their demand is that the bank stop garnishing Sonia’s
parents’ pension.
Two snaps. First, the overall view of the encampment:
<http://www.greatpix.eu/All/Picture-A-Day/4253606_kdsZ6C#!i=3853988458&k=3zcKkQz&lb=1&s=O>
People signing the petition in support of Sonia and Paco and in general
demanding that the law be changed so that the debt is extinguished once the
house is taken by the bank:
<http://www.greatpix.eu/All/Picture-A-Day/4253606_kdsZ6C#!i=3853988612&k=GJs77dK&lb=1&s=O>
And yes, I signed also. I am no populist but the banks ARE greedy bastards.
Just this week, 78 executives of another bank have been charged with fraud—they
had been given “black credit cards” by the bank which they could use freely,
and of course this little fringe benefit was never declared to the tax
authorities.
Cheers,
Nathan
Nathan Wajsman
Alicante, Spain
http://www.frozenlight.eu <http://www.frozenlight.eu/>
http:// <http://www.greatpix.eu/>www.greatpix.eu
PICTURE OF THE WEEK: http://www.fotocycle.dk/paws
<http://www.fotocycle.dk/paws>Blog: http://nathansmusings.wordpress.com/
<http://nathansmusings.wordpress.com/>
Cycling: http://www.crazyguyonabike.com/belgiangator
<http://www.crazyguyonabike.com/belgiangator>
YNWA
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