HANNA JARZABEK    -  Photography & Multimedia Storytelling


Finalist of Grand Press Photo 2012, Poland


Familly waiting for eviction. Mortgage Crisis in Spain. Photoreportage

 


Hard Times - Spain 2010/2011

Spain is one of the most impacted by the present economic situation countries. One consequence is an increasingly spreading housing crisis, caused by the insolvency of mortgage holders. In the past 4 years (2007 - April 2011) over 300 000 families faced eviction due to the mortgage execution...


According to the spanish mortgage law, during the seizure process, bank can put the property on public auction and overtake it for only 50% of its appraised value. The rest of the money, with additional high administrative costs, has to pay the debtor...




 
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