Take Two for January 11, 2013

Zombie titles plague foreclosure victims after banks walk away

Richmond, CA Hit Hard By Foreclosures

Justin Sullivan/Getty Images

A worker removes furniture from a foreclosed home before the start of a bus tour of foreclosed and blighted properties on July 13, 2012 in Richmond, California. Members of the group Alliance of Californians for Community Empowerment (ACCE) joined city officials and Richmond mayor Gayle McLaughlin on a bus tour to view foreclosed properties in neighborhoods in Richmond that have been hit the hardest by foreclosures. Richmond currently has over 1,000 homes in foreclosure.

In other housing news, the curious phenomena of zombie titles. Thousands of homeowners are finding themselves legally liable for houses they didn't know they still owned after banks walk away from foreclosed homes before they're final. 

Here to explain how this is happening, we're joined by Reuters reporter Michelle Conlin.


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