It has been revealed by the government of Spain that that they shall work as a helping hand for the people who are unable to pay their home loan mortgages. This has been done in order to try and help the people who are jobless ad have heavy loans to pay, it is a way of trying to bring back the economy of the nation back to track.

There were a lot of protests conducted in the past few weeks for the purpose of changes in the mortgage foreclosure laws. These protestors were of the view that there should be more done for the people in need of help and the policies should be changed in order to be beneficial for the common man.

According to the revelation made by the deputy Prime Minister, Alfredo Perez Rubalcaba, that in case a person is incapable of paying off their debts in time, the government would come forward and raise the percentage to 60%. This would leave only a minimal amount to be paid by the defaulter.

"Nobody will be able to take hold of the house of anyone for less than 60 percent of its value”, he said.