So-called “zombie properties”, or homes that sit vacant due to foreclosure, have become difficult to find in the last few years as the economy recovered from the Great Recession of the late 2000s. However, experts say that with coronavirus pandemic-related foreclosure moratoriums now at an end, we could soon see a backlog of foreclosures resulting
Zombie foreclosures rise despite existing moratorium
June 1, 2021 by
Research shows that so-called “zombie foreclosures” are emerging in much bigger numbers again as distressed homeowners abandon their properties in the belief that they will soon be repossessed. Around 1.4 million residential homes in the U.S. stood vacant in the second quarter, amounting to 1.4% of all homes, ATTOM Data Solutions said in a new
Zombie foreclosures decline during COVID-19
June 1, 2020 by
The COVID-19 pandemic has not set off a wave of foreclosures, in large part because the government has put moratoriums on foreclosures and banks are offering mortgage forbearance options for homeowners who have lost their jobs. “Zombie foreclosures”—homes that sit vacant—are actually down 3.1% from the first quarter of 2020, ATTOM Data Solutions reports. Further,
RealtyTrac: 21% of Foreclosures are ‘Zombies’
July 1, 2014 by
Zombie foreclosures are still haunting the housing market, representing one in every five foreclosures nationally, according to RealtyTrac, a housing data firm.
CFPB Has ‘Zombie Foreclosures’ In Its Crosshairs
March 18, 2014 by
The Consumer Financial Protection Bureau is targeting “zombie” foreclosures, a growing problem where borrowers may unknowingly still own a property that they thought the bank had foreclosed upon.
