The Movement of Mortgage Victims (PAH in its Spanish acronym) demands solutions that are just, feasible, and already in place elsewhere. Until solutions can be reached for each particular situatio, we demand a stop to evictions, not just of foreclosed families, but of their guarantors aswell. We demand free legal representation for all affected persons and a guarantee that no person should be left homeless: A democratic country with respect for Human Rights cannot allow thousands of families to go homeless when millions of apartments remain empty waiting to be sold.
Regulate the non-recourse debt like other EU countries and the United States, which means if the bank forecloses a home as collateral for the mortgage loan, then the debt should be erased. It is abusive banking to evict people from their homes and on top of it demand they keep paying 20, 50, even 100 thousand Euros.
Convert the blocks of foreclosed homes, into public housing. Government should force financial institutions to assume the real prices of housing, forcing banks to give up a significant percentage of the mortgage debt so that government can purchase the property at a market price protected by social security. This way a former proprietor could remain living in their home as tenants of rent stabilized housing, receiving the full benefit of said system, as long as they abide by the established norms. This would not only help families who have had to foreclose homes, but it would benefit the state by increasing the number of affordable housing. País Vasco has already implemented such a plan, it needs to be extended to the remaining autonomous communities.
A social audit conducted of the mortgage market. There is much to indicate that the citizens have been victims of fraud, which needs to be investigated in order to establish the responsible parties: banks, businesses and also public institutions. The same audit should help explain where the millions in benefits generated by the real estate boom ended up.
Implement the necessary reforms, putting in place a series of policies, which will insure that the right to decent housing can never again turn into a business for some while it becomes slavery for working families.
Establish a law that dictates that a monthly mortgage payment cannot, under any circumstance, exceed 30% of the person or family income, and for a maximum of 20 years.
We invite those affected to join our Movement. Unity is the best way to conquer the fear, the threats, and the abuse of the banks. We also invite all social collectives and grassroots organizations to support this manifesto, because it’s our job, as a society, force the model to change: From the real estate bubble to housing rights. Furthermore, we invite government and the government administrations to engage in dialogue and help implement the necessary changes.
Until the new measures are out in place, we exercise our right to protest and call for action.
- Taken from the Movement of Mortgage Victims’ manifesto.