I don't think it's going to have any impact on you living in the country. But it may certainly be an obstacle if you are looking at borrowing money again. Mind you, the banks aren't exactly lending at the moment anyway so that's not much of an issue.
But, if you still are indebted to the bank, even after they repossessed it, then I think if you are in Spain they will have more chance of making sure you clear that debt with them.
Justin