Spain Foreclosures Stymied by Nun Hit Debt Investors: Mortgages
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Sister Inmaculada Torano, a 47-year-old Spanish nun, stepped in to negotiate when Bankia SA tried to repossess the home of a student at the school where she works over missed mortgage payments.
“The bank may have a right under the law to evict, but there’s a difference between what’s legal and moral,” said Torano, who teaches at a school run by the Sisters of Charity of the Sacred Heart of Jesus in the working class Madrid suburb of Villaverde. The intervention helped persuade Bankia, led by former International Monetary Fund head Rodrigo Rato, to delay eviction until the student finishes the school year in June, she said.