Foreclosure crisis’ after effects felt in neighborhoods
The prevalence of abandoned houses due to the lengthy foreclosure crisis has increased in Charlotte. “Zombie properties” denote a property that an owner has walked away from but the bank or lender has yet to take ownership of it. It is truly a house in limbo. These abandoned properties can attract disrepair, vandalism, and crime. In Charlotte 1,150 houses have been abandoned. In North Carolina the average foreclosure process lasts almost 10 months.