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Planet Money
Planet Money

Zombie mortgages are coming back to life

May 10, 2024 · 30m
AI Summary
  • Reveals the practice of debt collectors buying zombie second mortgages—old, supposedly-discharged loans—for pennies and then foreclosing on current homeowners
  • Details how Karen McDonough, a nurse current on her mortgage, faced foreclosure despite 17 years of payments due to a purchased zombie mortgage
  • Discusses the legal mechanisms enabling this practice and options for homeowners to fight zombie mortgage claims

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