Zombie Titles – More Horrifying Than House Foreclosures
“Five years in the past, Keller, 10 months guiding on his house loan payments, obtained notice of a foreclosure judgment from JP Morgan Chase. In a handful of months, the lender claimed, his a few-tale home with grey vinyl siding in Columbus, Ohio, would be put up for auction at a sheriff’s sale.”*
“Zombie titles” are so much crueler for a household proprietor than a standard foreclosure. Just when you imagine the home is entirely out of your hands– it just isn’t, and you happen to be stuck with piled-on credit card debt and tasks with out any legal rights. How does this even work, and why do the banking companies do this? How is this authorized and ethical? Cenk Uygur breaks it down.
*Read more from Michelle Conlin/ Reuters:
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