How a 'zombie mortgage' can leave a person homeless
Bloomberg Televisionยท2025-10-07 20:11
Imagine opening your front door one morning and hearing, "I bought your house. Move out." That's exactly what happened to Scott and Carrie Amab. They lost their home in a foreclosure sale, >> even though they had paperwork showing the debt had been cancelled years earlier. The culprit, a zombie mortgage, an old writtenoff loan that suddenly comes back to life.Here's how it works. Back in the early 2000s, a lot of people took out second mortgages. When the 2008 housing crash hit, the banks assumed many of th ...