Zombie Property Survival Guide
Carrington Contributes to the Zombie Property Survival Guide
On Oct. 24, 2018, Carrington Mortgage Holdings EVP Rick Sharga was quoted in the frighteningly titled “Zombie Property Survival Guide" from DS News. Zombies have become a go-to favorite when it comes to monsters and metaphors, and the housing industry has borrowed the zombie name to describe a persistent problem of its own: the so-called “zombie property.”
“These properties are typically somewhere in the foreclosure process,” said Rick. “They’re vacant, having been abandoned by the borrower but are not yet under the control of the lender or servicer. They’re often the byproduct of well-meaning but poorly executed legislation and regulations.”
Read the article here.