ZOMBIE HOMES

ZOMBIE HOMES are still around.  You know the zomie homes where the owner walked away due to the underwater mortgage.   Now the house is vacant.  There is no equity, no homeowner and nothing but blight.

It is a nightmare for the neighborhood and the neighbors.  Vacant homes breed vandalism. There are only two possible solutions.  The zombie homes are cured or killed.  Most of these vacant homes will end up as short sales, foreclosures or bank owned sales (REO).

The most effective method would be to maintain a short efficient foreclosure process.  It would seem unlikely since lenders, servicers of loans and our government are most certainly less than efficient.  Option two would be for the banks or the cities to aggressively take possession of the property and rehab or demolish the zombie homes.

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