99% Invisible

99% Invisible

Planet Money: Zombie 2nd Mortgages

September 17, 202433 min

0:0033:16

About this episode

Karen MacDonough had paid her mortgage for years, raised her family, and lived a quiet life in her Quincy, Massachusetts home—until one day, a group of strangers appeared on her lawn, claiming her house was up for foreclosure. What followed was a surreal discovery of “zombie mortgages,” forgotten second loans from the housing bubble era that have come back to haunt homeowners like Karen. As real estate prices rise, debt collectors are reviving these dormant debts, threatening homes across the co

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99% Invisible

Design is everywhere in our lives, perhaps most importantly in the places where we've just stopped noticing. A weekly exploration of the process and power of design and architecture.

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