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Is there more to life than money?
14 Nov 2010 18:37 GMT | Europe, Spain
The fallout from the recent global economic crisis has hit homeowners hard around the world.
But the system in Spain is especially harsh for those who can no longer afford to make their mortgage payments.For many Americans facing foreclosure, that would be the end of it. But for Luis Marti and thousands of other Spaniards, it is just the beginning of their troubles.In Spain, foreclosure and eviction do not terminate the debt, so after losing their homes, many people owe the remainder of the mortgage. Therefore, people cannot escape the debt through bankruptcy either, because mortgage debt is specifically excluded from the bankruptcy laws.
Al Jazeera's Barbara Serra reports from Barcelona.
Source: Al Jazeera
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