Planet Money: Zombie 2nd Mortgages
17 September - 33 minsKaren MacDonough had paid her mortgage for years, raised her family, and lived a quiet life in her Quincy, Massachusetts home—until one day, a group of strangers appeared on her lawn, claiming her house was up for foreclosure. What followed was a surreal discovery of “zombie mortgages,” forgotten second loans from the housing bubble era that have come back to haunt homeowners like Karen. As real estate prices rise, debt collectors are reviving these dormant debts, threatening homes across the country.
This episode is from our friends at Planet Money, a podcast about economics...possibly the biggest thing that we all collectively try not to think about, only to have it greet us at the grocer...
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