Rise of the ‘Zombie’ Loans
Federal officials and banks dealing with the subprime mortgage mess helped create the “zombie” mortgages crisis. After providing billions of dollars in relief to homeowners for first mortgages, they left...
By Noah Buhayar, Eric Fan, Aaron Gordon, Coulter Jones, Elena Mejia · Bloomberg
Federal officials and banks dealing with the subprime mortgage mess helped create the “zombie” mortgages crisis. After providing billions of dollars in relief to homeowners for first mortgages, they left vast numbers of second mortgages intact.