Regulatory Alerts2012-11-16
Royal Decree-Law 27/2012 of 15 November on Urgent Measures to Strengthen Protection for Mortgage Debtors
The Spanish Government issued Royal Decree-Law 27/2012 to immediately suspend evictions for two years for mortgage debtors belonging to specially vulnerable groups facing significant economic hardship. Eligibility requires meeting specific vulnerability criteria, such as having dependent children or disabilities, combined with income limits and proof that mortgage payments exceed 50% of net household income. The legislation also mandates the creation of a social housing fund to provide rental assistance to those displaced by mortgage defaults.
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