What is Zombie Foreclosure: Prevent Neighborhood Blight
Understanding Zombie Foreclosures: A Neighborhood Nightmare Have you ever driven past a house that looks abandoned, boarded up, and overgrown? That might be a zombie foreclosure. This isn't a horror movie plot; it's a real-estate problem impacting communities nationwide. A zombie foreclosure is a property where the homeowner has defaulted on their mortgage, but the bank hasn't completed the foreclosure process. The house sits vacant, often deteriorating, while legal battles drag on, creating a blight on the neighborhood and significant financial hardship for the former homeowner....