Home Sales Held Hostage by Hard Line Junior Lien Holders

Prashant Gopal and John Gittelsohn, Bloomberg Tom Axon’s mortgage-collection firm gets about 25 calls a day from delinquent homeowners’ brokers seeking approval to sell their houses for a loss and avoid foreclosure. We’ll help, his staff tells them, as long as we get paid enough. Axon, working with co-investors, buys distressed U.S. home- equity loans […]