[CLBS] Zombie second mortgages?

[Holly Roark]

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Do we have any state laws that are helpful to deal with old second mortgages
where there has been no movement (payment or collections) post-BK for over
10 years? (The loan term is through 2026, FYI). I have a matter where the
second is now trying to foreclose, but there is probably an issue with the
chain of assignments of the Note/DOT, so I will be looking at that. I am
just wondering whether we have any other state law that would be helpful in
this scenario where the debt is old, but they do have a lien on the house. 

 

Best regards,

HOLLY ROARK

Attorney at Law 

Certified Bankruptcy Specialist -

By the State Bar of California Board of Legal Specialization

 

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