“Ten years later, some new servicer is contacting them and telling them, you owe me $500,000 — pay now,” says Mitria Spotser of the Center for Responsible Lending. In a nationwide analysis of property records dating back to 2002, Bloomberg News found thousands of US families have received these claims, and more than 600,000 second mortgages from the early 2000s could still pose a threat to families across the US.
