What is ‘Zombie Debt?’ Why homeowners are facing foreclosure on old mortgages.

What is ‘Zombie Debt?’ Why homeowners are facing foreclosure on old mortgages.

Business
November 20, 2022 by keithhill530
260
[ad_1] Rose Prophete thought the second mortgage loan on her Brooklyn home was resolved about a decade ago — until she received paperwork claiming she owed more than $130,000. “I was shocked,” said Prophete, who refinanced her two-family home in 2006, six years after arriving from Haiti. “I don’t even know these people because they