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zombie mortgage

noun

Definitions

  1. A second mortgage which a debtor falsely believes to be forgiven or paid off, typically…

    A second mortgage which a debtor falsely believes to be forgiven or paid off, typically arising from a mortgage lender selling the debt to another servicer without notifying the borrower.

    • In other words, more than 500 zombie mortgages in a single state that are now coming back to life as companies file a form with the state indicating they intend to foreclose on the property.

The neighborhood

Vish — recursive loop

No curated loop yet for zombie mortgage. Loops are being traced one word at a time while the ingestion pipeline matures.

sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA