Estimated reading time: 0 minutes, 24 seconds

CFPB Targets Time-Barred 'Zombie Mortgages'

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

Read 726 times
Rate this item
(0 votes)

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.