MADRID— Xacobo Rodriguez, out of work and with an infant child, says he lives in a constant state of dread. “You always fear the day there will be a knock on the door and then you’ll be evicted from your home,” he says.
Mr. Rodriguez, 38 years old, is one of the many Spaniards who can’t pay pricey mortgages taken out before a property bubble popped in 2008. Worse, his mother, who guaranteed his loan with her own home, is also at risk. “I feel we both might sink,” he says.