“Zombie Mortgages” Forcing Homeowners into Foreclosure
Thousands of homeowners across the United States are at risk of losing their homes due to the resurgence of “zombie mortgages,” according to a recent investigation. These homeowners, many of whom took out second mortgages during the subprime lending housing bubble between 2004 and 2008, believed their debts had been written off. However, they are now discovering that these mortgages are coming back to haunt them. The investigation revealed that foreclosure activity had been initiated …