Only in 2011 more than 40,000 families have lost their homes.
This measure is a last resort to banks in cases of default.
Some of the measures to mitigate are mortgage refinancing or deferral of fees.
The crisis and rising unemployment have caused excessive only in 2011 more than 40,000 families have lost their homes in an eviction , a tragedy for those affected that banks left as a last resort in case of default.
Faced with this serious social problem that is increasing, the financial stresses that are already taking steps to mitigate , as the refinancing of mortgages, easing or deferral of fees or a moratorium on principal payments, among others.
The Government has proposed that households with payment difficulties may continue to occupy the property "a reasonable time" everything possible to avoid reaching the foreclosure , a measure that is not positive either for customers who lose their housing or for entities that increase their exposure to "brick" and add to its portfolio a new real estate asset to be provisioned.
The Executive presented this week a program of measures to reduce the impact of the evictions in groups at risk of social exclusion, complete with a code of good practice to adopt a voluntary institutions.
These proposals include the possibility that families who are in the "threshold of exclusion", having all its members are unemployed and have exhausted their unemployment benefits can pay off your debt with the bank providing your home , it known as "payment in kind."
In addition, the Government has proposed that families who are in the above situation can also be saved from eviction, whereas calls because they allow a grace period so that, for an embargo, those affected can continue to occupy the property "a time time " of at least two years.
Banks defend their predisposition
Institutions argue that long fighting and the drama seeking social solutions for customers.
The Banco Santander announced in 2011 a capital moratorium of three years from August to alleviate the situation of clients with objective causes of economic problems, such as being unemployed or have suffered a drop in income of more than 25% and having temporary difficulties in paying the mortgages of residence.
It also offers the possibility of lengthening the maturity of the credit to offset the grace period without changing the financial terms of the loan, or during the grace period, or the end of it.
One consultant stated in a study that could lead foreclosed mortgages more expensive for the few measures that have been received in the last six months 8,000 families, according to the entity. The amount of such mortgages affected reaches 1,300 million euros. In addition, since 2008, Santander has 4,000 deals refinanced mortgage by 4,200 million.
BBVA also explained later in the year that more than 40,000 families have been able to maintain their homes thanks to the plans undertaken by the entity. According to data from the end of the year, BBVA has helped about 108,000 families, of which 45,000 are for mortgages.
Among other measures, BBVA can defer mortgage payments for two to add them to the outstanding loan amount with a maximum of ten, during the life of the loan, defer up to 30% capital at maturity of the operation or increase the term to 40 years of the mortgage.
Bankia been relaxed since 2009 the credit terms to 100,000 customers with payment difficulties , of which 50% of these operations are hipotecas.Además, 85% of customers who traded "get a final solution and avoid defaulting "said the entity.
For entities is best to reach agreements with customers who stay with their homes and now that the recent financial reform has tightened supplies estate.
In this regard, a study by consultancy Oliver Wyman warns that the " payment in kind ", which involves paying off the debt with the delivery of housing, could result in increased cost of mortgages by higher funding costs and a decline in the granting of credits.
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