Study: More than 300,000 homes are foreclosed zombies

By | April 2, 2013

RealtyTrac for the first time analyzed data on zombie properties after a Reuters’ special report in January examined the special problem of zombie titles, Blomquist said.

Reuters revealed the plight of people who walked away from their homes not realizing that their names remained on the deed and that they were financially liable for taxes and other bills related to the abandoned property.

In some cases, homeowners vacated after receiving a notice from the bank of a planned foreclosure sale, only to find out later the bank never followed through.

Zombie properties can be easy to spot as they deteriorate into neighborhood eyesores and havens for criminal activity.

While Florida leads in volume of zombie properties, Kentucky, with less than 1,000 zombie properties, leads in percentage, with zombies representing 54 percent of its total foreclosure inventory, Blomquist said.

Zombies in Washington, Indiana, Nevada and Oregon also constitute 50 percent or more of the properties in foreclosure, according to the report. …

via More than 300,000 homes are foreclosed zombies, study says | Reuters.

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