Hello dreamofspain1970 and welcome to our ALL SPAIN Message Board! Be sure to search through this category for LOTS of other threads on the same topic - teaching English in Spain.
How possible is it for you to secure employment as an English teacher in Spain? It's probably very possible but although you have a Masters degree in such it won't be easy - although you definitely have an advantage. Still, it'll take time, patience, and willingness to accept a low-salary and relatively insecure job. You'll likely earn more than your typical EU member with TOEFL certificate but will still be difficult to find a company to OFFER you a work visa - they REALLY hate to do this.
Also, be sure to visit message board member Chica's website (one of them),
http://www.ExpatriateCafe.com . It's focused on the United Statesen who wants to teach English in Spain. LOTS of great information there as well as a message board.
Good luck! Saludos, MadridMan
