Pay Up Or Move Out: The Americans Losing Their Homes to ‘Zombie’ Mortgages
Big Take6 Okt

Pay Up Or Move Out: The Americans Losing Their Homes to ‘Zombie’ Mortgages

They’re called “zombie” mortgages: old second loans from the subprime era that many homeowners had good reason to believe were canceled or forgotten. Now, years later, debt collectors are coming after the money. And they’re ready to foreclose if people can’t pay. It sounds like a horror story, but a new Bloomberg investigation has found that it’s a terrifying reality — and hundreds of thousands of homeowners could be at risk.

On today’s Big Take podcast host Sarah Holder and Bloomberg data journalist Noah Buhayar look at what a trove of records from one debt collection company tells us about how the industry operates as a whole and why cashing in on dormant mortgages has become big business.

Read more: How Debt Collectors Spin Riches from Zombie Loans

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Episoder(785)

Introducing: The Big Take

Introducing: The Big Take

Each weekday, The Big Take brings you one story—one big, important story that impacts your life. Host Wes Kosova talks to Bloomberg journalists around the world, experts in their fields and the people at the center of the news to help you understand what’s happening, what it means and why it matters. Money, politics, the economy and business, energy, the environment, technology—we cover it all on The Big Take. And we do it in plain English. The Big Take features the best of Bloomberg's in-depth, original reporting from around the globe. Listen each weekday starting on Oct. 27. Learn more about The Big Take www.bloomberg.com/bigtake and subscribe to our daily newsletter https://bloom.bg/3rBmR9g.See omnystudio.com/listener for privacy information.

19 Okt 20222min

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