Since
the bursting of the housing market bubble in 2008 and its devastating
and perverse impact on poor families in many countries, including
Spain, a constant struggle has been developed by its victims against
the mortgage fraud implemented by the financial entities in the
financial system with the approval and support of various state
agencies.
Hundreds
of thousands of families have lost their homes due to foreclosure
proceedings which are null and void in fact and violate the law
recognized by the EU legislation itself. Besides losing their house
and all the family savings invested in housing, families have been
left with a huge debt due to the overvaluation of their homes, the
financial costs and the legal fees.
These
evictions of foreclosed families without alternative housing
constitute a clear violation of human rights, which has been
tolerated by the various powers of the Spanish State.
In
addition, financial institutions have taken over all the assets and
savings that families have been spending for years to pay for
housing.
When
the people affected by mortgage fraud run out of family heritage and
still have a huge unpayable debt inscribed for life in defaulter’s
records, they have been thrown into economic and social exclusion, in
the same way a number of other services and rights have been
affected.
