5 Housing Markets Overrun By Zombie Foreclosures

PORTLAND, Ore. (TheStreet) — When there is no more room in housing market hell, zombie foreclosures will dot the earth. According to real estate analysis firm RealtyTrac, one in every five homes in the foreclosure process (more than 152,000 in total) is sitting vacant. Abandoned by the distressed homeowner and not yet repossessed by the foreclosing lender, these homes have no one to maintain …

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