Spanish banks freeze evictions following suicide

Spanish banks have announced that they will freeze eviction orders in the most severe cases after a woman committed suicide just before she was to be evicted.

This is the second time an eviction-induced death has occurred in as many months, reports the Guardian.

"It's a problem which has been talked about for some time," said one judge who attended the scene. "The time for talk is over and steps must be taken for something to happen."

The public agreed, with protestors gathering on the streets near the home following Amaia Egaña's tragic death. This follows other recent protests about the general state of the economy, with rising unemployment now causing one in four Spanish residents to rely on benefits to live.

"It is just terrible never knowing if you'll be able to get back into your home every time you go out," commented Maria Cumbicus, aged 50, who moved to the country during last decade's property boom before losing job and falling behind on her mortgage payments.

Following the protests, Prime Minister Mariano Rajoy called for talks among officials to reform evictions. Now, the Spanish Banking Association has agreed to suspend evictions for the most financially vulnerable homeowners in the country.

The aim is "to help alleviate the situation of helplessness that many people are suffering owing to the economic crisis", the Association said.

Since the financial crisis, property values have plummeted from the market peak four years ago. As a result, many homeowners are now underwater, owing more on their property than it is actually worth.

"Under Spanish law," adds the Scotsman, "even when borrowers turn over their homes to the banks, they still owe the entire amount of the mortgage."

Cumbicus added: "Halting evictions is all very well after these suicides, but there is very little you can do on your own unless someone comes to your aid."