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CFPB Targets Time-Barred 'Zombie Mortgages'

Friday, Apr 28 2023
Lending
Written by  The Mortgage Leader

The Consumer Financial Protection Bureau has warned debt collectors against pursuing debt on so-called “zombie mortgages” after the statute of limitations. So reports DSNews.

CFPB 150x150The agency said that some debt collectors have been trying to foreclose on silent second mortgages that consumers thought they were done with.

“We are making clear that threatening to sue to collect on expired zombie mortgage debt is illegal," Rohit Chopra, director of the CFPB, said in a statement.

Read the full article from DSNews. 

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