The once-proud American dream home is being abandoned. Financially distressed homeowners are packing up and leaving months — sometimes years — before the lender finally gets around to repossessing their home.
Left with nobody to take care of it, the zombie foreclosure becomes a magnet for vandalism, copper theft and squatters. To make matters worse, the zombie foreclosure mindlessly feeds on the property value of nearby homes.
The infographic below shows exactly why you are going to have a more difficult time selling a home if it’s within 600 feet of an abandoned foreclosure, and it offers good advice to give your clients about how to fight zombie foreclosures in their neighborhood.
Source: The Zombie Foreclosure Infographic
Jared Speck is the marketing manager for The Freedom Law Firm. You can follow him on Twitter @thejaredspeck or LinkedIn.
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