Meaning of zombie mortgage | Babel Free

Definitions

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.

informal

Examples

“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.”

CEFR level