You could almost be forgiven for thinking that it could only happen in a country like the United States where the social welfare system is practically zero compared to that of Western Europe.
A 46-year-old man has killed himself in Alicante, Spain, over the threat of being evicted from his house. It was the fourth case this week in Spain of a suicide connected over an eviction
Spain has some of the harshest foreclosure in the industrialized world.
European Union Advocate General Juliane Kokott issued a non-binding report concluding that Spanish legislation on evictions contradicts European norms for protecting consumer rights. Europe’s highest court will rule on the issue.
So crazy that in many cases, after you’ve been foreclosed on and evicted, the banks can still come after you for the rest of your life for what you “owe” them.
Under Spanish law, even when borrowers turn over their homes to the bank, they still owe the entire amount of the mortgage.
And so the nightmare continues. Recently, a retired couple took their lives by taking an overdose of prescription drugs in their apartment on the island of Majorca, AP reported. The 68-year-old man and the 67-year-old woman left a note saying they were going to lose their home due to debt. The couple’s son found their bodies.
Public pressure against evictions this week led Spain’s parliament to accept consider a popular measure against mortgage-related evictions for unpaid debts…
The Popular Legislative Initiative (ILP), promoted by the citizen movement Plataforma de Afectados por la Hipoteca (PAH) (Platform for those Affected by Mortgage), is backed by nearly a million-and-a-half signatures.
It calls for “payment in kind,” meaning that a person’s debts are written off once they have surrendered their home, and wants this to apply retroactively. It also wants a moratorium on evictions, and the creation of social housing with homes confiscated by banks.
Spain according to most business analysts will continue to slide into deeper economic shit, without a light at the end of the tunnel for another decade. While Europe burns the European political elite play with their todgers and continue to attend bogus summit’s.