"Yediot Ahronot": 11,000 families are classified as insolvent.
Hebrew daily "Yediot Ahronot" today reports that Bank of Israel figures indicate that 42,000 families are failing to meet mortgage payments. It adds that 11,000 families are classified as insolvent, with an average of 18 months in arrears on their mortgages.
The figures indicate that 5% of borrowers are in arrears on their mortgage payments. The figure is one of the highest in Europe: the figure is 4% in Spain and Belgium, 1.7% in France, 0.9% in the UK, and 0.8% in the Netherlands.
Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2013
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