Homeowners who had long stopped paying their mortgages are meeting a new type of debt collector: complete strangers who buy their mortgages, sometimes for as little as $1, and collect the remaining debt. There is about $135 billion in unpaid mortgages on 800,000 nonperforming loans for single-family homes across the country, the majority of which originated in the lead up to the 2008 financial crisis, according to the Wall Street Journal. This vast amount of […]
source https://therealdeal.com/2018/11/21/welcome-to-the-wild-world-of-private-citizens-buying-bad-mortgages/
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