Spain's mortgage foreclosure doubles in 2008 due to economic crisis

Special Report:Global Financial Crisis

MADRID, April 13 (Xinhua) - The number of mortgage foreclosure in Spain doubled in 2008 in comparison with 2007 because of the global economic crisis, local press reported on Monday.

The number of foreclosure was 58,686 in 2008, compared with 25,943 in 2007, and the regions of Andalusia and Cataluna witnessed the largest numbers of foreclosure, according to a report issued by the General Council of the Judicial Power (CGPJ).

The economic crisis and high unemployment rate have made it impossible for debtors to fulfill their loan obligations, which has pushed up the foreclosure, said the report.

The report predicted a 43.5 percent growth in the number of foreclosure for 2009.