Big Take Pay Up Or Move Out: The Americans Losing Their Homes to ‘Zombie’ Mortgages
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Oct 6, 2025 Noah Buhayar, an investigative data journalist at Bloomberg, reveals shocking truths about 'zombie' mortgages—old second loans haunting homeowners. He explains how many believe these debts were canceled, only to be pursued by aggressive debt collectors years later. The conversation dives into the tactics used by the industry to profit from dormant loans and the terrifying reality facing over 600,000 borrowers. With personal stories and expert insights, Buhayar sheds light on the dire consequences of foreclosure and the complexities of legal protections.
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Family Lost Home Despite 1099-C
- Scott and Carrie Amable bought a house in 2005 with a second mortgage and later filed bankruptcy thinking the second loan was canceled.
- A lien remained unreleased and a debt buyer foreclosed years later, forcing them to move out.
How 'Zombie' Second Mortgages Persist
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Investors Chase Value As Prices Recover
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