Zombie mortgages seemingly come back from the dead. You might have thought you’re up to date on any loans; however, a collector claims you owe on one and threatens you with collection or foreclosure on your home.
But what are zombie mortgages, and where do they come from? There are some actions you can take to protect yourself if you have one.
Zombie Mortgages Come Back to Haunt You
A zombie mortgage is a debt or mortgage that an individual thought was forgiven, but comes back to life years later.
Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.
