Well to add a bit to the pot, I heard today there is an EC directive being rushed through to enable a member state of the EC to take legal action for recovery in another member state.
IE. People who default or who give back the keys to the banks will be chased in their home country for assets to clear any outstanding loans after the property is sold.
No idea if it will be retrospective or actionable from the date of passing, but its something I have been warning many about for a long time.
Several people I know have given up and just handed keys back to banks, and some of these only took their loans out a year ago!
This is only the start.