Never just walk away from a foreclosed home.
It could come back to haunt you - long after you have moved out.
Since the housing bubble burst seven years ago, thousands properties are said to be in so-called "zombie foreclosures."
That's when a borrower moves out of their home after their bank schedules a foreclosure auction only to find out months or years later that the auction never took place or the bank never transferred the deed to the house.
That means the borrower still technically owns the home, and all the debt that goes with it...
including property taxes, fees and homeowners' association dues.
Those debts can go unpaid because the borrower is unaware they owe them, further dragging down their credit score.