"Inma Rodriguez lost her job, and now that she's defaulted on her mortgage, she's about to lose her home. But the nightmare doesn't end there: Once creditors kick her out, she'll still need to pay back the money she borrowed to buy her house.
It's a mortgage anomaly seen in much of Europe, but especially acute these days in Spain, a nation grappling with an economic crisis triggered by the collapse of a real estate bubble. Since the 2008 property crash, more than 300,000 have been hit by the potential double-whammy of eviction and mounds of mortgage debt.
"It hurts so, so much," says Rodriguez, choking up as she looks up at the ceiling of the home where she's lived for 30 years and raised two children.
Under the terms of her contract, Rodriguez will probably have to pay almost half of her euro200,000-plus ($290,000) bank debt, plus court costs and penalties after she leaves -- in stark contrast to the U.S., where defaulters can return the keys to the bank and walk away from their debt"..............READ MORE
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