Sunday, June 1, 2008

Spaniard plans raffle for flat to escape mortgage

An unemployed Spanish real estate agent is selling raffle tickets in a bid to get rid of his 320,000-euro (255-pound) apartment near Madrid because he is unable to keep up with his mortgage payments and cannot sell it.

Miguel Marina said he hopes to be able to pay off his mortgage, worth 80 percent of the value of his property, by selling 64,000 tickets at 5 euros each, promising his home as the single prize to the winner of a draw.
q

Property in Spain

Spanish real estate articles

Marbella real estate net