WASHINGTON — The Consumer Financial Protection Bureau said it will host a field hearing in Brooklyn on “zombie” second mortgages-mortgage debts that “consumers thought were satisfied long ago by loan modifications, bankruptcy proceedings, or lender write-offs.”
The hearing is scheduled for April 26 at 1 p.m. at the Brooklyn Law School.
“By the time a homeowner learns they owe on a ‘zombie’ second mortgage, it’s often too late, with foreclosure proceedings already in the works,” said Andrea Bopp Stark, senior attorney at the National Consumer Law Center.“We appreciate the opportunity to sit down with the CFPB and local advocates to discuss solutions, including improving homeowners’ options to challenge or dispute these debts and policy changes to keep people in their homes.”
According to the Bureau, advocates will examine the scope of the problem, why it is more prevalent in certain communities, and what consumers can do to dispute these debts.
The Panelists
In addition to Bopp, other panelists will include:
- Rohit Chopra, director of the Consumer Financial Protection Bureau
- Arthur Burkle, staff attorney at Brooklyn Legal Services
- Angela Davidson, program director, Foreclosure Intervention, at NHS Brooklyn
- Rose Prophete, homeowner
Public comment will also be accepted during the field hearing, the CFPB said.
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