Zombie foreclosure: (noun) A home whose owner has abandoned the property but which the bank never finished foreclosing upon, leaving the owner legally and financially responsible for the decaying building.
Don Ryan / AP
A national survey found 301,874 "zombie" properties dotting the U.S. landscape. To qualify as a zombie, the home must be abandoned by its former owner, leaving a vacant property susceptible to vandalism and degradation.
Florida tops the list of zombie properties with 90,556 vacant homes in foreclosure, according to a foreclosure inventory released on Thursday by RealtyTrac, a real estate information company in Irvine, Calif.
The number of homes overall in foreclosure or bank-owned rose by 9 percent to 1.5 million properties nationally in the first quarter of 2013 compared to a year ago, according to RealtyTrac.
Another 10.9 million homeowners nationwide remain at risk because they owe more than their property is worth, according to company vice president Daren Blomquist.