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How a 'zombie mortgage' can leave a person homeless
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 ...