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“Zombie Foreclosure Shake” [VIDEO]

May 16, 2013

NPQ: “Local Group Raises Awareness for Zombie Foreclosures” by Aine Creedon:

A local agency in North Carolina, Reinvestment Partners, has created a humorous video that brings back the dance from Michael Jackson’s hit, “Thriller” to raise awareness around the zombie foreclosure issue plaguing many communities across the nation.

Creedon’s definition:

A zombie foreclosure, or bank walk-away, materializes when a borrower leaves their home before they can pay off their mortgage, yet the bank doesn’t fully own the property. Neither entity takes responsibility, and therefore the home is left abandoned, fated to remain a zombie foreclosure.

But recall “Banker’s perspective on zombie foreclosures ignores bank’s fault” and consider that the “zombie” metaphor may be dangerous apocalyptic thinking that may prevent useful settlements between banks and mortgagors.

Also since this is a dance video, see also “Wonky Dubstep Crunking” — zombies love a good zombie dance party.

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From → debts, money

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