Zombie Foreclosures

Kevin Campbell | November 18, 2014

ZOMBIE FORECLOSURE:  A term for when a distressed homeowner leaves a property before the bank can finish taking it back.

RealtyTrac.com released its third quarter report on “zombie foreclosures” and the report showed that contrary to a declining trend nationally that both North Carolina as a whole and Raleigh specifically showed significant increases.  Zombie foreclosures increased by 65% in North Carolina and 21% in Raleigh from year to year.  Nationally, there were 117,298 zombie foreclosures in third quarter compared with 152,033 in the same quarter in 2013.

I’m so happy that Habitat provides homebuyer education and develops relationships with families that help prevent foreclosure.

See RealtyTrac’s report here.

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Kevin Campbell

Former President/CEO

Kevin Campbell, former President/CEO of Habitat Wake, is a recognized leader in service to the goal of affordable homeownership in Wake County and around the world.  His unwavering professional commitment to Habitat for Humanity and its vision – a world where everyone has a decent place to live - goes back nearly 30 years. Follow him on twitter at @kevinhabitat.