600 Valencian Families could be without a home in a giant swindle

Description:

600 Valencian Families could be without a home in a giant swindle.  All of them had applied for a loan with the financiers "Hipoval and Renew House", in Valencia Spain.

The swindle of these two financiers could leave 600 Valencian families without a house.  

Ther allleged swindle is estimated at €10 Million.  Both organizations were dedicated to granting loans and to acquiring an amount much greater than the value of the house declared in the escritura.  They also had the property as a guarantee according to a provincial newspaper. 

The desperate situation has taken many of the swindled people to the limit. One of the affected people, a woman who had to sell her house to pay off the crazy interest demanded by Hipoval, was on the verge of taking her life. The police avoided the tragedy in Valencia, when they saw the victim on the train tracks.

The majority of those affected have already moved and have set up meetings with a colllection of the cheated people. They are considering legal action against the three members of the companies (two notaries and a bank director) that were arrested on the 21st January the past and who are to appear in court in Paterna.

Any more people harmed by "Hipoval" or "Renew House" can be put in contact with the association through the freephone number 900 111 666.