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donna smith

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  • Comment on: Spanish property market slump continues

    donna smith's comment 4 July, 2012 1:53 pm

    In the past foreign buyers getting into financial difficulties were quietly switched to interest-only mortgages which slashed monthly repayments for three to four years, he said. Spaniards who have got into difficulties have been allowed to stay in their home paying a rent rather than making mortgage payments. Developers, he said, that were technically bankrupt, were propped up so the banks did not have to own up to their bad debts.
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