Thursday , 21 January 2021

Zombies Rise as Foreclosure Pipelines Clear

By Jann Swanson

Posted To: MND NewsWire

As might be expected, as the number of foreclosures has dwindled , so has the number of so-called zombies . However RealtyTrac said on Friday their share of all foreclosures has continued to grow. Zombie foreclosures are those in which the delinquent homeowner has moved from the home before the actual foreclosure or sheriff’s sale takes place. Vacant properties are at risk for deterioration or vandalism, creating a liability for both lenders and communities. In its quarterly Zombie Foreclosure Report RealtyTrac says that at the end of January 2015 there were 142,462 homes in the U.S. that were in the process of foreclosure but had already been vacated by the owner, down 6 percent from a year earlier. However that number represented one-quarter of all homes in the pre-sale foreclosure inventory…(read more)

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