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Popular Extends Suspension Period For Home Evictions To Four Years

Posted by: In: Real Estate 16 Feb 2015 Comments: 0 Tags: , , , , , , , , , , ,

16 February 2015 – Expansión

Grupo Popular has approved an amendment to increase the suspension period for the eviction of vulnerable people, from two years to four years, and to extend the right to Social Housing Fund access to include those evicted for the non-payment of non-mortgage loans; until now, only those evicted for the non-payment of mortgages were allowed to access social housing properties.

The agreement for the establishment of the Social Housing Fund was signed on 17 January 2013 by the Ministries of the Economy, Health, Development, the Bank of Spain, the Spanish Federation of Towns and Provinces (FEMP), the Platform of the Third Sector, the bankers’ trade association and 33 credit institutions. The rental cost of these homes ranges between €150 and €400 per month.

The following requirements must be fulfilled to access the Fund, amongst others: the family must have been evicted after 1 January 2008; the joint monthly income of the members of the family unit (household) may not exceed a limit of three times the Multiplier for Public Income Index (Indicador Público de Rentas de Efectos Múltiples or IPREM) or €1,597; and the family must not own its own home.

Original story: Expansión

Translation: Carmel Drake

The post Popular Extends Suspension Period For Home Evictions To Four Years appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts


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