'Zombie' mortgages are coming back to haunt homeowners... how to find out if you have one before it's too late
'Zombie mortgages' — thought to be long dead home loans — are coming back to life across the US due to rising property prices, experts are warning. In the years leading-up to the 2008 housing crash, banks issued risky 80/20 loans, which allowed millions of Americans to take out two mortgages at once. The primary mortgage covered 80 percent of the home's price, while a second loan — often used for down payments and closing costs — covered the remaining 20 percent.
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