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What on Earth is a “Zombie” Foreclosure?

No, this isn’t a Zombie Foreclosure. It is an awesome picture though! Photo Credit: Photommo on Flickr

No, it doesn’t have anything to do with Halloween.

Zombie properties are houses that are either in foreclosure or foreclosed, but can’t progress past that point. Perhaps the bank has stalled on the process, or has foreclosed but the title is clouded and they can’t sell until it is clear. “Dead” properties like this are a drag on society. The county is not receiving the taxes owed them; the home remains vacant, not being maintained and not going up for sale, affecting the value of properties around it. It can’t become a productive member of society (so to speak) by paying taxes and HOA dues because ownership is unclear.

I called the Ada County Tax Assessor’s office yesterday to get more information on the “zombie” inventory of foreclosure properties in our area. I was told they don’t know anything about that, and couldn’t tell if there was such a thing in our county. I’d love to know how companies like CoreLogic find out this information. Hey Title Companies, do you know?

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What on Earth is a “Zombie” Foreclosure?
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This blog content is relevant to:
Local Real Estate National Ada County Foreclosure