Zombie mortgages are coming back to life
Planet Money
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The Resurgence of Zombie Mortgages
This chapter narrates the alarming resurgence of dormant second mortgages, dubbed 'zombie mortgages,' that have come back to haunt homeowners as the real estate market rebounds. It tells the story of a woman who, believing her second mortgage was settled, faces unexpected demands for payment and potential foreclosure, prompting her to question the legitimacy of the claims against her. Through her experience and investigative efforts, the chapter sheds light on a troubling trend affecting many individuals who thought their financial burdens were behind them.
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