facebook
twitter
rss
account
search
search
 

Spain announces plan to help homeowners

Nov. 3, 2008 at 5:46 PM   |   Comments

MADRID, Nov. 3 (UPI) -- Spanish President Jose Luis Rodriguez Zapatero announced his intention Monday to help unemployed workers keep their homes.

In a plan revealed at a the Moncloa Palace, Zapatero said unemployed workers would be able to defer repayment of up to 50 percent of their monthly mortgage bills for a maximum period of two years, ThinkSpain.com reported.

The plan is expected to benefit 500,000 homeowners, but has limitations, ThinkSpain said.

The aid would be available for mortgages worth up to $214,000 and have a cap of $632 a month, the report said.

The plan, which is scheduled for approval at Friday's Cabinet meeting, would also cover inactive self-employed workers with families, the report said.

© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Scrap South Stream, Europe says Scrap South Stream, Europe says
2
New F-35 sustainment system undergoing flight testing New F-35 sustainment system undergoing flight testing
3
Apple to authorities: No iPhone user data, even with a warrant Apple to authorities: No iPhone user data, even with a warrant
4
Boeing to build new passenger spacecraft for NASA Boeing to build new passenger spacecraft for NASA
5
BAE Systems introduces new mine-protected vehicle BAE Systems introduces new mine-protected vehicle
Trending News
Video
x
Feedback