NCLC, How States Can Protect Homeowners Facing Zombie Second Mortgages: Suggested Language for a Second Mortgage Foreclosure Bill (June 2025)

NCLC Issue Brief addressing:

• The Problem of Zombie Second Mortgages and the Need for Action
• Suggested Statutory Language to Address Zombie Second Mortgage Problems
  
  Proposing safeguards to ensure that holders of second mortgages are providing proper notice and documentation before being allowed to foreclose and protections preventing unfair foreclosure of long-dormant second mortgages as well as older second mortgages taken as home equity lines of credit.