What Are Zombie Mortgages and How Can You Protect Yourself?
Manage episode 430319207 series 3378249
There’s been increasing discussion about a term known as “Zombie Mortgage.” Many homeowners have found themselves unexpectedly dealing with this type of mortgage. A zombie mortgage usually happens with a second mortgage. It occurs when a homeowner believes their second mortgage has been forgiven or forgotten, but it still exists. These mortgages, metaphorically rising from the dead, can haunt homeowners years after they thought the debt was settled.
You can read more about Zombie Mortgages and How to Protect Yourself by clicking here.
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