Planet Money: Zombie 2nd Mortgages
99% Invisible17 Sep 2024

Planet Money: Zombie 2nd Mortgages

Karen MacDonough had paid her mortgage for years, raised her family, and lived a quiet life in her Quincy, Massachusetts home—until one day, a group of strangers appeared on her lawn, claiming her house was up for foreclosure. What followed was a surreal discovery of “zombie mortgages,” forgotten second loans from the housing bubble era that have come back to haunt homeowners like Karen. As real estate prices rise, debt collectors are reviving these dormant debts, threatening homes across the country.

This episode is from our friends at Planet Money, a podcast about economics...possibly the biggest thing that we all collectively try not to think about, only to have it greet us at the grocery store, at the gas station, even in our homes. This episode illustrates how massive forces pull at the economy like tides and create ripple effects in our lives, like how a decade-old loan can suddenly come back to life and take everything away.

Subscribe to Planet Money wherever you get your podcasts. They also have a digital piece with further reporting on Zombie Mortgages from NPR’s Investigations Team. You can find that at npr.org/zombie.

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Episoder(742)

A Sea Worth its Salt

A Sea Worth its Salt

The largest body of water in California was formed by a mistake. In 1905, the California Development Company accidentally flooded a huge depression in the Sonora Desert, creating an enormous salty lake called the Salton Sea. The water is about … Continue reading → Subscribe to SiriusXM Podcasts+ to listen to new episodes of 99% Invisible ad-free and a whole week early. Start a free trial now on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

9 Aug 201617min

The Magic Bureaucrat

The Magic Bureaucrat

In 1996, President Bill Clinton and the Congress undertook a reform effort to redesign the welfare system from one that many believed trapped people in a cycle of dependence, to one, that in the President’s words, would give people “a … Continue reading → Subscribe to SiriusXM Podcasts+ to listen to new episodes of 99% Invisible ad-free and a whole week early. Start a free trial now on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

3 Aug 201632min

Combat Hearing Loss

Combat Hearing Loss

The US military buys a lot of foam ear plugs. Visit any base and you’ll find them under the bleachers at the firing range, in the bottoms of washing machines. They are cheap and effective at making noise less … noisy. … Continue reading → Subscribe to SiriusXM Podcasts+ to listen to new episodes of 99% Invisible ad-free and a whole week early. Start a free trial now on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

26 Jul 201616min

America’s Last Top Model

America’s Last Top Model

In 1943, the Army Corps of Engineers began construction on a scale model that could test flooding in all 1.25 million square miles of the Mississippi River. It would be a three-dimensional map of nearly half of the continental United … Continue reading → Subscribe to SiriusXM Podcasts+ to listen to new episodes of 99% Invisible ad-free and a whole week early. Start a free trial now on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

19 Jul 201619min

The Mind of an Architect

The Mind of an Architect

In the late 1950s, the Institute of Personality Assessment and Research embarked on a mission to study the personalities of particularly creative scientists and artists. Researchers established categories, grouping analytical creatives together (including scientists and mathematicians) as well as artistic … Continue reading → Subscribe to SiriusXM Podcasts+ to listen to new episodes of 99% Invisible ad-free and a whole week early. Start a free trial now on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

13 Jul 201621min

Unpleasant Design

Unpleasant Design

Benches in parks, train stations, bus shelters and other public places are meant to offer seating, but only for a limited duration. Many elements of such seats are subtly or overtly restrictive. Arm rests, for instance, indeed provide spaces to rest arms, but they … Continue reading → Subscribe to SiriusXM Podcasts+ to listen to new episodes of 99% Invisible ad-free and a whole week early. Start a free trial now on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

6 Jul 201613min

Remembering Stonewall

Remembering Stonewall

It started with a place called the Stonewall Inn. Gay bars had been raided by police for decades. Gay, lesbian, bisexual, and transgender people had been routinely arrested and subjected to harassment and beatings by the people who were meant … Continue reading → Subscribe to SiriusXM Podcasts+ to listen to new episodes of 99% Invisible ad-free and a whole week early. Start a free trial now on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

29 Jun 201626min

Home on Lagrange

Home on Lagrange

In 1968, an Italian industrialist and a Scottish scientist started a club to address what they considered to be humankind’s greatest problems—issues like pollution, resource scarcity, and overpopulation. Meeting in Rome, Italy, the group came to be known as the … Continue reading → Subscribe to SiriusXM Podcasts+ to listen to new episodes of 99% Invisible ad-free and a whole week early. Start a free trial now on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

22 Jun 201626min

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