Spain will allow some families to delay mortgage payments
Tuesday, November 4, 2008 @ 11:13 AM
Some good news....
Spain’s socialist government will permit around half a million families to delay some of their mortgage payments for up to two years in an effort to stimulate Spain’s economy.
Spanish Prime Minister Jose Luis Rodriguez Zapatero announced the relief plan on Monday, which would also provide new job incentive measures to 500,000 unemployed workers.
Zapatero’s announcement came just after the European Union Commission confirmed that Spain is heading for recession next year, with the unemployment rate, currently at 11.3 percent, predicted to increase to 15 percent.