They are known as zombie foreclosure and in some cities they plague neighborhoods.
But not in Denver or Colorado. In Colorado, where there are 1.6 million residential properties, only 85 are considered “zombie” foreclosure — that means the legal process has started but the bank has not yet repossessed the home, and the home is vacant.
Across the country, about 20,000 U.S. residential properties are in the foreclosure process — but not yet repossessed by the foreclosing lender — those are… …read more
From:: biz journal foreclosures