99% Invisible
Planet Money: Zombie 2nd Mortgages
Sep 17, 2024
Chris Arnold and Robert Smith, reporters for Planet Money, dive into the alarming world of zombie mortgages, revealing the impact of long-forgotten second loans that resurface, threatening unsuspecting homeowners like Karen MacDonough. They discuss the emotional turmoil and legal battles faced by those suddenly confronted with these revived debts. With insights into the housing bubble and Wall Street's role in this unsettling trend, the episode sheds light on the unsettling reality of predatory lending practices and the importance of understanding our financial landscapes.
33:16
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Quick takeaways
- Zombie mortgages can resurface unexpectedly, posing significant risks to homeowners who thought these debts were resolved long ago.
- Legal support and advocacy play a crucial role in helping homeowners challenge aggressive debt collection practices related to dormant mortgages.
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