"Where do we put ourselves with this money?": a vulture fund offers 6,000 euros to Susana so that she leaves her home

Palma"What can you do with 6,000 euros?". That is the question from Susana, a resident of the Rafal neighborhood, regarding the offer made by the fund that is now demanding she leave her home. "To them, 6,000 euros is nothing, and they offer us this in exchange for our home, as if we could do anything with that amount," she criticizes. The amount is not even enough to find a decent alternative housing option. Now, she and her partner are facing a judicial proceeding that has been dragging on for years and has changed actors with the successive sales of the property.

Her testimony was collected at one of the gatherings of the members of the housing encampment in various neighborhoods of Palma and towns in Mallorca to prepare for the housing strike on November 11th. These meetings aim to share the experiences of people affected by the housing crisis and organize the mobilization. On Wednesday, the meeting was in Son Cladera and on Tuesday, in Pere Garau.

Susana's story dates back to 2017, when she and her partner signed a payment in kind agreement because they could not keep up with the rent-to-own contract they had with the Caixa d’Estalvis del Mediterrani (CAM), currently integrated into Banc Sabadell. Later, they signed a standard three-year rental contract, which expired in 2020.

With the pandemic, the situation became complicated and they began to receive the first eviction notices for the property. During that period, the Promontoria fund acquired the house and the rest of the building without them knowing. Now, the property has passed into the hands of Código Estratégico, which has appeared in the judicial proceeding and is demanding that they vacate the home, she explains. In this context, they have been offered up to 6,000 euros to leave.

They are returning their rent receipts

One of the episodes that Susana reports is that they stopped charging them rent, even though until then they were paying 324 euros per month. The receipts were charged to the bank account where they had the payment domiciled, but then they returned them and the money was diverted to another account that they did not usually use.

The situation made them fear that a non-payment would be alleged to justify evicting them. "They wanted to make it look like we weren't paying," she explains. Faced with this problem, they sought a way to continue paying the monthly installments and, with legal help, they managed to set up a new direct debit through the court. Now they continue paying the rent through this system. The woman also relates that on several occasions, men they did not know have shown up at their home, called them squatters, and demanded that they leave the dwelling. Furthermore, she reports other financial conflicts linked to the house, among which she mentions debts related to community expenses and water.

A legal defense full of obstacles

The situation has also become complicated in the judicial sphere. Susana and her partner have different lawyers and, according to her testimony, the communication regarding the appearance of Código Estratégico in the proceedings was sent to her partner's legal representation, but not to hers. When she consulted her lawyer, he told her that he had not received any notification. Furthermore, her partner has been left without a lawyer, because she stopped practicing, and now they have to resolve how to continue with their legal defense. All of this adds uncertainty to a procedure that has been dragging on for years.

Meanwhile, Susana has rejected the financial offer to leave the home, because it would not allow her to find any alternative. She says that the situation does not let them live or sleep peacefully. Her experience highlights the vulnerability of people who, after having lost the ownership of their home through a dation in payment, continue to live there as tenants and subsequently face new owners who demand they leave.