As if the word foreclosure isn't frightening enough, adding the word zombie to it makes it even worse and it's troubling that Illinois is among the leading states in the nation for this terrible housing trend.
What are zombie foreclosures anyway?
Rocket Mortgage defines a zombie foreclosure as "a situation in which a homeowner vacates their property after receiving a notice of mortgage default". The homeowner leaves before the foreclosure takes place which means there is no one around to maintain the home.
Only one station in America has a higher percentage of zombie homes than Illinois
According to a new study by Realtor.com , Illinois has a 6.1% vacancy rate for empty "zombie" investor-owned homes. Only Indiana has a higher percentage of vacant investor-owned homes than Illinois.