Negative record of repossessions: 118,000 (some thoughts)
Wednesday, December 8, 2010 @ 3:17 AM
www.thespanishbrick.com
According to the Banks’ Financial Products Agency (Agencia Negociadora de Productos Financieros), during 2010, Spanish banks have already taken over a total of 118,000 properties from debtors.
The director of the Agency, Luis Javaloyes, commented that 30% of these repossessions could have been avoided if the banks had refinanced the mortgage.
Financial companies are standing up
Mr Javaloyes underlines the role that financial brokers have developed in 2010. Thanks to their service, thousands of home owners have been able to keep their properties because of financial services, as an alternative to the direct negotiation with the traditional bank.
Read full article about repossessions and Property in Spain 2011