During the Great Recession, “zombie foreclosures” were a thorn in the side of servicers. With no money to pay their mortgages, some underwater borrowers simply abandoned their homes.

When the Covid-19 pandemic began in March 2020, zombie foreclosures were one of the housing industry’s greatest fears. 

In August 2021, the Consumer Financial Protection Bureau (CFPB) stipulated in its servicing guidelines that it was “fair game” for servicers to foreclosure a vacant property because it was better for the local community’s safety. Other properties, however, were protected by a foreclosure moratorium during the pandemic, which expired details ⇒

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