1500 Bulgarian Families Left Homeless over Unpaid Mortgages

Society | October 8, 2013, Tuesday // 12:26
Bulgaria: 1500 Bulgarian Families Left Homeless over Unpaid Mortgages Photo: Archive

A total of 1500 Bulgarian families have lost their only homes due to outstanding home mortgage loans, according to the director of the Bulgarian Credit Center.

Speaking to Bulgarian newspaper Pressa, Tihomir Rashkov explained that many Bulgarians managed to keep their homes keeping up with their mortgage payments despite the difficult economic situation in the country due to the financial crisis.

“Only 1500 Bulgarian families have been left without homes for unpaid bank loans”, reported Tashev, adding that Bulgarians are highly attached to their home and they are not apt to lose it easily.

The mortgage credits of Bulgarians stand at over 160 000 amounting to nearly BGN 8.9 B in total while the unpaid credits account to 18 000, according to statistics of Bulgarian National Bank database.

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Tags: Bulgarian, mortgage
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