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Published on Jan 15, 2013
"Five years ago, Keller, 10 months behind on his mortgage payments, received notice of a foreclosure judgment from JP Morgan Chase. In a few weeks, the bank said, his three-story house with gray vinyl siding in Columbus, Ohio, would be put up for auction at a sheriff's sale."*
"Zombie titles" are so much crueler for a home owner than a normal foreclosure. Just when you think the house is completely out of your hands-- it isn't, and you're stuck with piled-on debt and responsibilities without any rights. How does this even work, and why do the banks do this? How is this legal and ethical? Cenk Uygur breaks it down.