We call these Zombie homes. This is the home you move out of when you can no longer afford the payment or the home is in terrible disrepair. These homes typically have no equity–they are worth far less than what is owed on the mortgage–and it may not seem possible to sell the home. Real
Zombie Homes
Zombie Homes: What to do when the Bank Refuses to Foreclose
By Sam Turco on
Posted in Foreclosure
Owning a home can be a burden, especially for those who wish to surrender a property the bank does not want. Frequently the homeowner has vacated the premises and the property sits unoccupied for months or even years. These “Zombie” homes impose significant burdens for debtors, even after a bankruptcy is completed and the underlying…