Zombie Mortgages and Foreclosure Listings with Cities: A Hidden Risk for Homeowners in Santa Maria and Inglewood CA

By Elias DaSilva | September 6, 2024.

Beware of zombie mortgages: these unexpected, old debts that seem settled but suddenly resurface can lead to unwanted foreclosure listings with cities like Santa Maria. Homeowners like Jose Arzate in Santa Maria, CA, and Laverne Simmons in Inglewood, CA, faced substantial financial distress when second mortgages thought to be paid off suddenly reappeared with accrued interest and fees. Real estate agent Rich Szerman highlights that zombie debt results from incorrect assumptions about loan repayment or transfers to new servicers, causing massive financial strain.

Zombie debts aren’t limited to mortgages; they can include student loans, medical bills, or car loans that resurface with additional penalties. The CFPB advises homeowners to regularly check their credit reports to avoid unexpected foreclosure listings. Homeowners like Arzate and Simmons are now taking action to fight back against these unfair practices.

Foreclosure Listings in Cities:

• Santa Maria, CA: 112 foreclosures
• Inglewood, CA: 143 foreclosures