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Zombie debt refers to long-forgotten or old debts that resurface, often with accumulated interest and fees, threatening the financial stability of unsuspecting homeowners and sometimes leading to foreclosures. CBS News national consumer correspondent Ash-har Quraishi reports.
Teresa modified her home mortgage back in 2009 during the financial crisis, and thought she was making payments on her second mortgage every month. She's discovered she's overdue on thousands of payments for this "zombie debt," and fears losing her home.
Jose Arzate of Santa Maria, California, says he was taken by surprise when sheriff's deputies evicted him. He says he never knew he owed tens of thousands of dollars in "zombie mortgage" debt.
Laverne Simmons of Inglewood, California, says she never got bills for a decade-old debt. Now this "zombie mortgage" could cost her the home she loves.
Millions of U.S. homeowners are spending more than 30% of their monthly income on housing. Here are the hardest hit states.
There are some indications that prices are falling in some parts of the U.S. economy. This comes after the Federal Reserve's announcement to hold interest rates steady for now. CBS News contributor Javier E. David looks at some key economic indicators as inflation slows slightly.
The Federal Reserve is leaving interest rates unchanged for now as it awaits a more sustained period of declining inflation in the U.S. economy. CBS News contributors J.D. Durkin and Javier E. David break down the decision.
As home prices nationwide continue to climb, the federal government is looking into a recent spike in upfront costs associated with buying a house.
Continued demand and lack of inventory are driving up the prices of homes at a time when mortgage rates are also climbing.
Demand for buying a home will remain strong in 2024 even though mortgage rates have been around 7% this year.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
Mortgage rates soared to their highest level of the year this week, according to Mortgage News Daily. Holden Lewis, a home and mortgage reporter for NerdWallet, joins CBS News with tips on buying a home.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The U.S. economy added 275,000 jobs in February and the unemployment rate unexpectedly rose to 3.9% from 3.7%, according to data released Friday. CBS News business analyst Jill Schlesinger and Daniel Zhao, a lead economist and senior manager at Glassdoor, join CBS News with a look at the numbers.
Aspiring homebuyers face one of the toughest markets in years, with one analyst pointing to a "toxic brews" chilling sales.
While inflation has shown signs of cooling, mortgage rates and home prices are still stubbornly high, making it challenging for many Americans to buy homes. Elise Preston reports.
After a hotter-than-expected inflation report on Tuesday, economists now believe the Fed could postpone its first rate cut. Here's what to know.
Mortgage rates are expected to fall slightly this year, according to real estate experts looking at the data. Jessica Lautz, the deputy chief economist and vice president of research at the National Association of REALTORS, joins CBS News to discuss if homeowners should refinance their mortgages.
While rents have been easing for the past few months nationwide, prices are still up significantly compared to before the pandemic, largely due to inflation. Providence, Rhode Island, saw one of the highest rent increases in the U.S. last year, and according to researchers, you need a salary of close to $83,000 to afford a two-bedroom apartment there. Nancy Chen reports.
The Federal Reserve Board announced it will not change interest rates for now as it eyes how to lower inflation without running the risk of entering a recession. CBS News business analyst Jill Schlesinger looks at the Fed's decision and the upcoming cues to look out for in the economy.
The big picture on Wall Street is that it's been a solid stretch for the American economy. But for those hoping to buy a home, pay rent, or afford groceries, it's not all quite as rosy.
Some financial experts expect mortgage rates to decline gradually over the coming months. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News with the data behind this projection.
In a positive sign for the housing market, a growing number of consumers think mortgage rates are likely to decline this year.
Will mortgage rates drop and home prices finally fall in 2024? Chen Zhao, who leads the economics team at Redfin, shares some early predictions for the housing market in 2024.
Sky-high mortgage rates that scared off some potential home-buyers this year are slowly starting to drop. Rates are now at their lowest level since June after hitting a 23-year high in October. Greg McBride, chief financial analyst at Bankrate, joined CBS News to discuss how much lower rates might go.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points. Here's what to know.
The House Ethics Committee voted to release its report on the investigation into former Rep. Matt Gaetz on Dec. 5, according to multiple sources.
The 1,500 page measure would do much more than prevent a government shutdown.
The Supreme Court on Wednesday said it will take up a challenge to a new law that could lead to a ban on TikTok in the U.S.
A student opened fire at Abundant Life Christian School in Madison, Wisconsin on Monday, authorities said in a shooting that left two people and the suspected shooter dead and others injured.
A person in Louisiana has the first severe illness caused by bird flu in the U.S., the Centers for Disease Control and Prevention announced Wednesday.
Police have warned residents to avoid monkeys seen recently in Orange City, Florida.
The Senate approved the mammoth National Defense Authorization Act despite concern from some Democrats over a controversial gender-affirming care policy.
The Charlotte Hornets' mascot appeared to award a fan a video game console, but the device was taken away when the cameras stopped.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points. Here's what to know.
The Senate approved the mammoth National Defense Authorization Act despite concern from some Democrats over a controversial gender-affirming care policy.
The Charlotte Hornets' mascot appeared to award a fan a video game console, but the device was taken away when the cameras stopped.
The Supreme Court on Wednesday agreed to consider whether South Carolina health department's can cut off funding from Planned Parenthood because it performs abortions.
FAA data shows that lithium battery fires on U.S. flights have risen 388% since 2015, now occurring nearly twice a week.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points. Here's what to know.
FAA data shows that lithium battery fires on U.S. flights have risen 388% since 2015, now occurring nearly twice a week.
Sen. Elizabeth Warren says Americans seeking debt relief face an overly complicated, costly bankruptcy system.
World coal use is set to reach an all-time high in 2024, the International Energy Agency says, in a year all but certain to be the hottest in recorded history.
"In essence, this money has been stolen from all of us for all these years," said an 84-year-old woman whose late husband's Social Security benefits were slashed. "It's not fair."
The Senate approved the mammoth National Defense Authorization Act despite concern from some Democrats over a controversial gender-affirming care policy.
The Supreme Court on Wednesday agreed to consider whether South Carolina health department's can cut off funding from Planned Parenthood because it performs abortions.
The Supreme Court on Wednesday said it will take up a challenge to a new law that could lead to a ban on TikTok in the U.S.
The 1,500 page measure would do much more than prevent a government shutdown.
A new Pentagon report says China is continuing to expand its nuclear force and has strengthened its ties with Russia over the past year.
Seed oils are making headlines, prompting fears around whether they can have negative effects on your health. Here's what to know.
A person in Louisiana has the first severe illness caused by bird flu in the U.S., the Centers for Disease Control and Prevention announced Wednesday.
"The mystery has finally been solved," Congo's health ministry says, after an unidentified disease outbreak started killing mainly women and children in a remote region.
The sisters share a special bond of getting a second chance at life, which they both received at the age of 38 years old.
Republicans wants to extend 2017 tax cuts that expire next year and could let ACA subsidies lapse to help pay the tab, according to analysts.
Ukrainian-born ballet phenom Sergei Polunin was rewarded for backing Putin's attacks on his native country, but he appears to have fallen from Moscow's graces.
A new Pentagon report says China is continuing to expand its nuclear force and has strengthened its ties with Russia over the past year.
The "Frankfurt Silver Inscription" shows the earliest evidence of Christianity north of the Alps.
A British court has cleared police to seize $3.3 million from misogynist social media influencer Andrew Tate and his brother to cover unpaid taxes.
Before the blast, the soldiers had discovered the dismembered bodies of three people, officials said.
Surviving members of the Grateful Dead, Bobby Weir, Bill Kreutzmann, and Mickey Hart, revisit the Great American Music Hall in San Francisco.
Ben Schwartz and James Marsden join "CBS Mornings" to discuss their roles in the highly anticipated sequel "Sonic the Hedgehog 3," distributed by Paramount Pictures.
Dave Matthews, Leon Bridges and Derek Trucks led a star-studded tribute to the Grateful Dead at this year's Kennedy Center Honors. Anthony Mason spoke with the band's three surviving core members about their journey to becoming one of the most influential bands in American history.
Tory Lanaz, who is serving a 10-year prison sentence for shooting Megan Thee Stallion in the feet, is harassing her from prison through surrogates, the petition alleges.
Comedian Nikki Glaser, known for her honest style, is gearing up to host the 82nd Annual Golden Globes.
After a landmark year for AI advancements like chatbots and image generation, questions loom about the future. Generative AI expert Sam Gregory shares what's ahead.
FAA data shows lithium battery fires are up 388% on U.S. flights since 2015, happening nearly twice per week on average. The lithium batteries inside your tablet, laptop and phones can be flammable when they're damaged or they overheat. Passengers should never put a lithium battery in a checked bag, but it's also advised to keep an eye on your devices during your flight.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
OpenAI is rolling out its ChatGPT search engine for free to everyone with an OpenAI account after first making the service available for paying subscribers back in October. Will Knight, senior writer with Wired, joined CBS News to discuss the tool.
2024 has been a big year for space exploration, with the shift towards privately financed missions fueling major innovations. CBS News space analyst Bill Harwood discusses the latest on the Boeing Starliner astronauts who have been stuck at the International Space Station for months, the Odysseus moon lander, Space X and NASA.
World coal use is set to reach an all-time high in 2024, the International Energy Agency says, in a year all but certain to be the hottest in recorded history.
From record-breaking temperatures to devastating disasters, 2024 brought the world closer to the reality of what climate change looks and feels like. CBS News national environmental correspondent David Schechter reports.
Researchers determined that dozens of men, women and children were violently killed and cannibalized in Bronze Age-era England.
In this episode of “ClimateWatch,” CBS national environmental correspondent David Schechter looks back at the devastating hurricanes, landslides, flooding and more that impacted the U.S. this year.
According to the Center for Biological Diversity, the U.S. creates nearly 6 billion tons more waste in December than in other months. The nonprofit says about 25% of returned products end up in landfills. Sandra Goldmark, a circular economy expert and associate dean at the Columbia University Climate School, joins CBS News to share examples of sustainable, environmentally friendly gifts for everyone on your list.
Records are providing more details about the Madison, Wisconsin, school shooting suspect and her family life. CBS News' Anne Schecter breaks down what's known as officials investigate the 15-year-old's motive.
A British court has cleared police to seize $3.3 million from misogynist social media influencer Andrew Tate and his brother to cover unpaid taxes.
Before the blast, the soldiers had discovered the dismembered bodies of three people, officials said.
Chris Stanford is facing a reckless endangerment charge after shooting at a fugitive several times and hitting a home that had a family inside.
Damaso Lopez Serrano — who is known as "Mini Lic" — is accused of ordering the 2017 killing of award-winning journalist Javier Valdez.
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
Two astronauts who have been stuck aboard the International Space Station for months will have to wait even longer to come home. Their planned returned was delayed once again on Tuesday, pushing their earliest return trip back to late March. Manuel Bojorquez has more.
NASA astronauts Butch Wilmore and Suni Williams have been stuck in space for months longer than expected, and will not return to Earth until at least March 2025 at the earliest, NASA indicated.
One of the best meteor showers of the year is about to peak. Here's how to watch and where you can catch the Geminids.
December's full moon, known as the Cold Moon, is the last full moon of 2024. Here's when it peaks and why it's called the Cold Moon.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
The Federal Reserve is set to announce a potential reduction to the interest rate, its final potential move in 2024. CBS News' Kelly O'Grady has more on what's expected.
Records are providing more details about the Madison, Wisconsin, school shooting suspect and her family life. CBS News' Anne Schecter breaks down what's known as officials investigate the 15-year-old's motive.
Lawmakers struck a deal on Capitol Hill to fund the government that includes disaster funding and points on health care and price transparency. Molly Ball, a senior political correspondent for the Wall Street Journal, joins CBS News with more on the stopgap measure. Also, the House Ethics Committee quietly voted to release the report on findings regarding former Florida Rep. Matt Gaetz's alleged misconduct.
President-elect Donald Trump plans to nominate former football star and 2022 Georgia Senate candidate Herschel Walker as the U.S. ambassador to the Bahamas. CBS News' Caitlin Huey-Burns reports.
A Texas man is looking for help from lawmakers after his wife and children, including two girls born in the U.S. in September, were detained and deported to Mexico. CBS News correspondent Skyler Henry has more.