Why are there so many Second Mortgage foreclosures now? Part 1 of 2

The predatory hedge fund managers, or a few of them, had the idea to buy up a whole lot of second mortgage which were virtually worthless because of the drop in property values when those same hedge fund managers blew up the real estate market, back in 2008 and 2009.

All of a sudden, these past couple of years, the property prices have rebounded and now second mortgages have value and are the subject to multiple suits to foreclose and take people's homes ... even though the homeowners have been current on the first mortgage for over a decade.

The vast majority of the time, the second mortgage investors never even put the money into properly servicing the valueless debt, and so the second mortgage servicers never sent out any monthly statements.

And that is where the potential remedies lie, to protect homeowners from these exploitative lawsuits from the second mortgage hedge funds.

That will be discussed more in Part 2 of this video series on second mortgage foreclosures.

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More Resources
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Guide to Foreclosures in New Jersey: https://denbeauxlaw.com/resources/for...
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Learn about the new CFPB servicing rules: https://denbeauxlaw.com/new-cfpb-mort...