AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min snip
Zombie mortgages are coming back to life
Planet Money
Unveiling the Resurgence of Zombie Mortgages and Karen's Struggle
Karen, a mother and nurse, found herself facing a nightmare when strangers sold her house, claiming she had an old debt from over a decade ago. This phenomenon is happening to thousands, known as 'zombie mortgages' buried for years and then resurfacing to cause financial devastation. These people, like Karen, took loans believing they had been forgiven but are now being pursued by debt collectors. The resurgence of old debts is legal, affecting those who took loans around 20 years ago. The investigation uncovered the distressing reality of people losing homes they thought were secure. This episode explores the reasons behind the revival of old debts, its legality, and potential solutions to combat these 'zombie mortgages'.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode