Trust This. Zombie Mortgages Rise — CRE Delinquencies Spike
1 big thing: Zombie mortgages: They’re back. Zombie mortgages—second mortgages borrowers forgot about or believed forgiven—are suddenly being called in. The result is a tidal wave of surprise foreclosures. The undead: Lenders who stopped pursuing foreclosure on a second mortgage in default, deeming it not worth the expense and trouble, might have given borrowers the […]