How a ‘Zombie Loan' Could Cost You Your Home

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Nicknamed 'zombie loans,' these are loans you think were forgiven but that companies are just waiting to collect on. Here's what you need to know.

However he says he was suspicious of the company, so he stopped paying. Then he was told by a third company that they were foreclosing on his home.

"This is a common occurrence, unfortunately, recently termed zombie mortgages," said Octavio Cardona-Loya.

 

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