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Jennifer Granholm Discusses Zombie Foreclosures

Millions of middle-class Americans lost their homes in the mortgage crisis. Among them is Joseph Keller, 58, a former social worker in Columbus, Ohio. Five years ago, he and his wife fell 10 months behind in their house payments and received

Millions of middle-class Americans lost their homes in the mortgage crisis. Among them is Joseph Keller, 58, a former social worker in Columbus, Ohio. Five years ago, he and his wife fell 10 months behind in their house payments and received a foreclosure notice from JP Morgan Chase. They packed up their belongings and moved. Two months later the bank changed its mind and decided not to foreclose after all, but Keller never found out. Keller’s not the only one in this situation. Michelle Conlin, a reporter for Reuters, joins Jennifer Granholm in “The War Room” to discuss.

A report by Conlin recently was the basis for a post I wrote called "Foreclosure Horror: The Zombie Title."

No one is keeping track of exactly how many homes out there that owners have abandoned, thinking that the banks have auctioned them off after receiving the foreclosure notice, and in many cases being locked out of the homes. But just as probably all of us know of someone who lost their home to foreclosure during the economic crisis, we'll soon likely know of someone being stalked by a zombie foreclosure.

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