A breather for the unemployed with mortgage

Good news for Spanish unemployed who feared for their mortgage payment: the council of ministers approved the extraordinary step by which they can be delayed for two years half the amount of your monthly payments up to a maximum of 500 euros per month.

This is a postponement, not debt forgiveness: The deferred amount will begin to pay into an extension of the original term of the mortgage, without falling into the figure of refinancing or its commissions, fees or interest, in an extension up to ten years, effective from January 2011.

A measure that benefits more than half a million unemployed and their families. If by the deadline extension, still do not allow the family to pay their debt, the government will through the Institute of Creditors Official (ICO). Thus, the measure does not become another reason for the banking crisis.

It has also approved a measure to extend the deadline for requiring purchase of one in the home-savings accounts, for four years.