• The Code of Good Practice has facilitated more than 43,600 debt restructurings and 7,456 payments in payment
  • The mortgage moratorium has allowed more than 27,800 evictions to be paralyzed since its application in 2013

The protection measures for vulnerable mortgage debtors launched in 2012 have benefited nearly 88,000 families. Among them, the Code of Good Practice (CBP) has allowed 51,071 beneficiaries (until October this year) to have restructured their mortgage debt. In the almost six years that the CBP has been in force, 43,607 viable restructurings, 7,456 payments in payment and 8 removals have been carried out. For its part, the Social Housing Fund (FSV) has allowed the execution of more than 9,000 rental contracts (closing of 2016) and the mortgage moratorium has led to the suspension of more than 27,800 evictions (until December 2017).

The Minister of Economy, Industry and Competitiveness, Luis de Guindos, has pointed out today in Congress that the reduction of foreclosures on habitual residence (60% less between July and September compared to a year earlier and 84% less since second quarter of 2014, the highest point) "is being spectacular". De Guindos blames this reduction largely on the initiatives launched by the Executive since 2012 to protect the mortgage debtors most affected by the crisis and the "vigorous economic recovery, characterized by intense job creation."

The CBP, together with the FSV and the suspension of mortgage launches, is part of the set of measures promoted by the Government since the beginning of the X Legislature with the aim of giving a rapid and forceful response to the drama of evictions. The CBP was approved in March 2012 with the aim of providing solutions to families with difficulties in coping with the payment of their mortgage debts, either because they are unemployed or due to lack of income. In recent years, the group that can take advantage of these measures has been expanded and the possibility has been included that debtors whose debt has been executed, stay at their home paying affordable rent. This is a Code of voluntary adherence but mandatory for the banks that sign it, which are currently the majority.

On the other hand, the suspension of mortgage launches in 2013 meant the suspension of evictions of those families who were in a situation of special vulnerability. The Government has promoted this year the extension of this measure until 2020 and has expanded the criteria to include the maximum number of vulnerable debtors. The FSV, for its part, allows to attend to those cases in which eviction could not be avoided, facilitating a rent at a reduced price.

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