Director #RohitChopra has warned the arm-breakers chasing payments on zombie mortgages that it's illegal for them to "threaten judicial actions, such as foreclosures, for debts that are past a state’s statute of limitations."

But there's still plenty of room for more action. As Smith notes, the 2012 #NationalMortgageSettlement - a "get out of jail for almost free" card for the big banks - enticed lots of banks to discharge those second mortgages.

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