Zombie Foreclosures Are Coming!
There’s a cool new term I just started hearing about. It’s the “Zombie Foreclosure.” It’s apparently when your house gets so run down it needs to feast on human brains just to keep from falling over. Then it rises from the foundations and . . .
Wait, we think we may have misunderstood. Let us try that one again.
What they’re probably talking about is when homeowners get spooked from all the foreclosure notices and flee the sinking ship. But the bank hasn’t actually foreclosed on the house. So it’s left in this weird limbo land where no one’s living in it but it’s still technically owned.
So what happens to these homes? And how many of them are there?
The answer might shock you – 2 million homes!
That’s a lot of people spooked for no reason. And you know what that tells me? It tells us that you haven’t been doing your job. If you’re watching a house crumble in your neighborhood, get taken over by squatters, be unmaintained, taxes unpaid, etc. etc. it means you missed an opportunity.
Short sale agents are supposed to be out there saving our society. You need to get in there, make sense of what’s happening to these poor homeowners, and keep the system working. I’ve trained you for a reason. Go find these people and help them. Be a servant! Bring up property values and get the housing market back on the right track.
Get to it! And leave a comment if you’ve come face to face with a zombie (home or otherwise)!