Mallorca couple commit suicide
Feb 12th 2013 | 4:27 am
#1
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Mallorca couple commit suicide
A couple in their late 60s have just been found dead of an overdose in the Mallorcan town of Calvià , after receiving an eviction notice due to mortgage arrears.
Yesterday the government ignored a petition signed by one and a half million people, pleading with them to relax the law on evictions (desahucios), give people more time to pay and deduct the value of the repossessed property from the outstanding debt.
It is estimated that suicides are now running at more than one a week and 400,000 people have lost their homes.
How many more lives will be lost because of this cruel Spanish law which leaves people with no roof over their head and a massive debt for the rest of their lives?
http://www.elconfidencial.com/socied...ahucio-114799/
Yesterday the government ignored a petition signed by one and a half million people, pleading with them to relax the law on evictions (desahucios), give people more time to pay and deduct the value of the repossessed property from the outstanding debt.
It is estimated that suicides are now running at more than one a week and 400,000 people have lost their homes.
How many more lives will be lost because of this cruel Spanish law which leaves people with no roof over their head and a massive debt for the rest of their lives?
http://www.elconfidencial.com/socied...ahucio-114799/
Feb 12th 2013 | 4:44 am
#2
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Re: Mallorca couple commit suicide
Should people in their late 60s have mortgages though? I would prefer to be debt free at that time of life.
Feb 12th 2013 | 5:02 am
#3
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From: Mallorca
Re: Mallorca couple commit suicide
The entire property market is much too over-leveraged here. Calvia in particular is one of the worst areas for housing prices.
Unfortunately, too many people believe they >MUST< live in Calvia,amongst the most expensive areas to live on this island. IMHO it's nuts to take a huge mortgage at this time, but even worse to be in your 60's and still be at risk.
Now, this is nothing less than a complete tragedy. I don't know what the solution is, but I'd tend to believe it's a combination of all of the above - The estate agents, the banks, the government, and unfortunately, the victims, too.
Unfortunately, too many people believe they >MUST< live in Calvia,amongst the most expensive areas to live on this island. IMHO it's nuts to take a huge mortgage at this time, but even worse to be in your 60's and still be at risk.
Now, this is nothing less than a complete tragedy. I don't know what the solution is, but I'd tend to believe it's a combination of all of the above - The estate agents, the banks, the government, and unfortunately, the victims, too.
Feb 12th 2013 | 5:15 am
#4
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Re: Mallorca couple commit suicide
I'm sure they would too! We don't know their details, maybe they had already extended the term. Ten or 15 years ago the banks were giving out mortgages like sweets, sometimes for 120% of the value of the property, persuading people to borrow as much as possible. You reap what you sow I guess.
Feb 12th 2013 | 5:38 am
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Re: Mallorca couple commit suicide
It's a tragic situation all round.
By refusing to block all evictions the Govt are basically protecting the thieving Bankers and putting them before the rest of the population.
However the question arises as to what would happen if the Govt did put a block on all evictions ?
It's a fair bet that countless other folk desperately struggling to survive would put their own basic bread and butter needs first and say to hell with paying off the mortgage for now, they can't kick us out on the streets.
I would expect the effect of this on top of everything else would be little short of catastrophic for the banks and the country as a whole.
So is there an answer, or will the tragedy continue ?
By refusing to block all evictions the Govt are basically protecting the thieving Bankers and putting them before the rest of the population.
However the question arises as to what would happen if the Govt did put a block on all evictions ?
It's a fair bet that countless other folk desperately struggling to survive would put their own basic bread and butter needs first and say to hell with paying off the mortgage for now, they can't kick us out on the streets.
I would expect the effect of this on top of everything else would be little short of catastrophic for the banks and the country as a whole.
So is there an answer, or will the tragedy continue ?
Feb 12th 2013 | 6:42 am
#6
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Re: Mallorca couple commit suicide
Can't understand this. Why won't the government allow the banks to repossess the house, but make the bank rent it back. With no interest added, it would be less than the original mortgage, and the bank still have the capital value of the house, which in todays market either don't sell or fetch a ridiculously low price anyway. Plus there are no bailiffs/court fees etc. Sounds simple to me, so it will never be adopted.
Feb 12th 2013 | 8:38 pm
#7
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Re: Mallorca couple commit suicide
Hey, they've done a U-turn! 
PP does U-turn on eviction initiative in Congress
PP does U-turn on eviction initiative in Congress
The ruling Popular Party bowed to intense pressure on Tuesday and agreed to back a popular legislative initiative in Congress organized by the Mortgage Victims Platform (PAH) to address a spate of foreclosures and evictions, PP congressional spokesman, Alfonso Alonso, announced Tuesday.
The previous day, the ruling party said its response to the initiatives, which came in the wake of a number of cases of suicide involving people facing imminent eviction, would be a “polite no.â€
An elderly couple in Calviâ on the island of Mallorca were found dead in their home on Tuesday by their son, who discovered a suicide note saying they had taken their own lives after receiving a notice to leave their property.
The PP has an absolute majority in the lower house ensuring approval of the consideration measures, which received the backing of the other groups in Congress.
The initiative was debated Tuesday in the lower house. During the debate, speaker Jesús Posada ordered the visitor galleries to be emptied after members of the public jeered the PP.
The PAH gathered 1.5 million signatures supporting the initiative, which calls for a backdated halt to evictions, the enactment of a dation in payment law that will allow those who have had their homes foreclosed to cancel the mortgage by handing the property over to the bank, and the creation of a pool of social housing for those who lose their homes.
PAH members met with PP lawmakers prior to the vote in an effort to convince them to change their minds. “Today, we will see if parliament is blind and deaf in the eyes of the people,†said PAH activist MartÃn BatllorÃ. PAH spokeswoman Ada Colau added: “We are asking deputies not to show disrespect to the people.â€
The previous day, the ruling party said its response to the initiatives, which came in the wake of a number of cases of suicide involving people facing imminent eviction, would be a “polite no.â€
An elderly couple in Calviâ on the island of Mallorca were found dead in their home on Tuesday by their son, who discovered a suicide note saying they had taken their own lives after receiving a notice to leave their property.
The PP has an absolute majority in the lower house ensuring approval of the consideration measures, which received the backing of the other groups in Congress.
The initiative was debated Tuesday in the lower house. During the debate, speaker Jesús Posada ordered the visitor galleries to be emptied after members of the public jeered the PP.
The PAH gathered 1.5 million signatures supporting the initiative, which calls for a backdated halt to evictions, the enactment of a dation in payment law that will allow those who have had their homes foreclosed to cancel the mortgage by handing the property over to the bank, and the creation of a pool of social housing for those who lose their homes.
PAH members met with PP lawmakers prior to the vote in an effort to convince them to change their minds. “Today, we will see if parliament is blind and deaf in the eyes of the people,†said PAH activist MartÃn BatllorÃ. PAH spokeswoman Ada Colau added: “We are asking deputies not to show disrespect to the people.â€
Feb 12th 2013 | 10:47 pm
#8
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Re: Mallorca couple commit suicide
The government could impose a homesteaders law , in California between $75,000 and $175,000 in equity is protected from bailiffs and the likes under certain circumstances , hence in genuine cases people can not be evicted from their homes , far to fair and sensible for the crooks in Madrid to set up.
Feb 12th 2013 | 11:09 pm
#9
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From: Velez-Malaga
Re: Mallorca couple commit suicide
Feb 13th 2013 | 1:42 am
#10
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From: Mallorca
Re: Mallorca couple commit suicide
It's a tragic situation all round.
By refusing to block all evictions the Govt are basically protecting the thieving Bankers and putting them before the rest of the population.
However the question arises as to what would happen if the Govt did put a block on all evictions ?
It's a fair bet that countless other folk desperately struggling to survive would put their own basic bread and butter needs first and say to hell with paying off the mortgage for now, they can't kick us out on the streets.
I would expect the effect of this on top of everything else would be little short of catastrophic for the banks and the country as a whole.
So is there an answer, or will the tragedy continue ?
By refusing to block all evictions the Govt are basically protecting the thieving Bankers and putting them before the rest of the population.
However the question arises as to what would happen if the Govt did put a block on all evictions ?
It's a fair bet that countless other folk desperately struggling to survive would put their own basic bread and butter needs first and say to hell with paying off the mortgage for now, they can't kick us out on the streets.
I would expect the effect of this on top of everything else would be little short of catastrophic for the banks and the country as a whole.
So is there an answer, or will the tragedy continue ?
If they are over their head due to being completely irresponsible or have plenty of other assets they could sell, then perhaps they should be forced to sell other assets to pay the mortgage, or foreclosed upon.
But if they did everything they were supposed to, but are demonstrably victims of the economic crisis, then they should be granted some immunity from foreclosure.
Feb 13th 2013 | 2:22 am
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Re: Mallorca couple commit suicide
Another eviction suicide today, a 55-year-old man hanged himself in Alicante. He owed just €24,000.
http://ccaa.elpais.com/ccaa/2013/02/...81_357324.html
http://ccaa.elpais.com/ccaa/2013/02/...81_357324.html
Feb 13th 2013 | 3:44 am
#12
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From: On Top of the World
Re: Mallorca couple commit suicide
Another eviction suicide today, a 55-year-old man hanged himself in Alicante. He owed just €24,000.
http://ccaa.elpais.com/ccaa/2013/02/...81_357324.html
http://ccaa.elpais.com/ccaa/2013/02/...81_357324.html
Let's hope that is the last one.
I've not seen any figures regarding the number of suicides to date as a result of threatened evictions, though I have heard unsubstantiated rumours that the true figures are being played down.
Anyone aware of the actual figures ?
Feb 13th 2013 | 4:53 am
#13
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Re: Mallorca couple commit suicide
It might have been hoped in view of the Govts turn around that a little discretion could have been applied until the new ruling is clarified and brought into force.
Let's hope that is the last one.
I've not seen any figures regarding the number of suicides to date as a result of threatened evictions, though I have heard unsubstantiated rumours that the true figures are being played down.
Anyone aware of the actual figures ?
Let's hope that is the last one.
I've not seen any figures regarding the number of suicides to date as a result of threatened evictions, though I have heard unsubstantiated rumours that the true figures are being played down.
Anyone aware of the actual figures ?
Nobody can be sure because the National Statistics Office stopped recording the reasons for suicides in 2010.
http://agenciaafni.wordpress.com/201...-por-el-ppsoe/
Feb 13th 2013 | 5:34 am
#14
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From: Velez-Malaga
Re: Mallorca couple commit suicide
At a minimum, there should be a fast and effective appeal process which determines whether a debtor can actually afford to pay the mortgage or not.
If they are over their head due to being completely irresponsible or have plenty of other assets they could sell, then perhaps they should be forced to sell other assets to pay the mortgage, or foreclosed upon.
But if they did everything they were supposed to, but are demonstrably victims of the economic crisis, then they should be granted some immunity from foreclosure.
If they are over their head due to being completely irresponsible or have plenty of other assets they could sell, then perhaps they should be forced to sell other assets to pay the mortgage, or foreclosed upon.
But if they did everything they were supposed to, but are demonstrably victims of the economic crisis, then they should be granted some immunity from foreclosure.
Feb 13th 2013 | 7:17 pm
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From: In the middle of 10million Olive Trees
Re: Mallorca couple commit suicide
Can't understand this. Why won't the government allow the banks to repossess the house, but make the bank rent it back. With no interest added, it would be less than the original mortgage, and the bank still have the capital value of the house, which in todays market either don't sell or fetch a ridiculously low price anyway. Plus there are no bailiffs/court fees etc. Sounds simple to me, so it will never be adopted.
and have you seen the prices some bank repossessions are being sold for ??
