Shari Olefson's blog

Zombie Foreclosures happen when a bank files foreclosure, the homeowners move out, the bank never completes the foreclosure and years later, the homeowners find out that they are still liable for costs such as taxes and repairs. Under the big $26 billion settlement between banks and the Attorney General from most states, following the so-called "robo-signer" debacle, banks that decided not to finish a foreclosure agreed to extinguish the mortgage entirely and notify the homeowner that they own the home free and clear. Some forgot to notify the homeowners!


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