Brian Stevens and Frank Garay give their usual lively spin on zombie titles and zombie foreclosures but also give an astute insight into another hidden consequence of zombie titles: As long as a house (and it’s mortgage) shows up on a borrower’s credit report and the borrower continues to hold legal title despite a foreclosure auction, the borrower’s credit score continues to suffer, debt to income ratios are ruined, and the credit repair cannot begin. What is even more insidious is that there are guidelines for mortgage loan underwriting that actually govern how long after a short sale or a foreclosure a borrower must wait before being eligible to qualify for a new mortgage. And yes, that time between past disaster and new mortgage does not begin to elapse until title is out of the borrowers name! If it were not so painful, it might be comical. Watch and enjoy anyway!