PROPERTIES for PENNIES, CASH-FLOW and LUMP SUMSJoin Today
Please or Register to create posts and topics.

NPR Industry Spotlight: Zombie 2nd Mortgages

Just a heads up, another news outlet is featuring the secondary mortgage market, specifically non-performing 2nd mortgages:

https://www.npr.org/2024/05/10/1197959049/zombie-second-mortgages-homeowners-foreclosure

Please make sure to respect CFPB Regulation Z (discuss with your legal counsel). In other words - don't retroactively pursue arrears if the previous lender(s) weren't sending monthly statements (most likely the case with all charged-off loans).

Seems like our niche industry is seeing even more exposure after last year's Wall Street Journal article. This is an amazing opportunity for ethical, entrepreneurial real estate investors to treat borrowers with compassion and understanding in order to resolve bad debts and help them clear title to their homes!

Ari_SoCal has reacted to this post.
Ari_SoCal