BBVA helps those clients who lose their only home as a consequence of a legal procedure. The institution will offer an economic aid of 400 Euros per month for two years. This initiative will have a budget of 32 million Euros and will be carried out together with the Addeco Foundation.
This measure will benefit all families that lose their only home from the 1st January 2013 after a legal procedure started by BBVA. For those families considered especially vulnerable (high age or dependence, domestic violence, large families, handicapped people, among others), the economic aid will reach 400 Euros per month. Those families in need but with no special vulnerability that have lost their homes because of a lack of income, will receive 200 Euros per month during two years.
As well as granting a monthly economic aid, the bank will also provide other services such as orientation, training and help in the search for a job. If any member of these families finds a temporary job, the economic aid will be suspended, until his/her contract finishes. At that point the award of 400 Euros will start again and will continue until the agreed 24 months have expired.
BBVA has helped more than 160.000 families in need since the beginning of the crisis. Nine out of ten families that have experienced payment problems have been able to keep their credits up to date and keep their homes thanks to this policy, according to figures provided by the bank presided over by Francisco González.
The institution supports these families, instead of suspending the foreclosure processes of their homes, as they are obliged by law to initiate them.
The director of the institution for Spain and Portugal, Jaime Sáenz de Tejada, declared yesterday that the search of employment is the “most urgent need” for many Spanish citizens right now.