How 'zombie mortgages' are coming back to haunt homeowners years later
Summary
Homeowners are discovering "zombie mortgages," which are unpaid loans they believed were resolved in the past. These debts can unexpectedly threaten their ownership of homes.Key Facts
- "Zombie mortgages" refer to old loans people thought were forgiven but still exist.
- These mortgages can create financial problems for the homeowners who do not expect them.
- "Zombie mortgages" can lead to the risk of losing one's home.
- This issue was reported by economics correspondent Paul Solman and producer Diane Lincoln Estes.
- The report is part of a collaboration with Retro Report, a documentary news group.
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