RealtyTrac: Trying Times for Second Lien Holders

The recovery prospects for second-lien holders in residential foreclosures keep looking dicier.

RealtyTrac recently surveyed more than 60% of first-quarter foreclosure activity across the country and found that 63% of the properties in the foreclosure process had a loan-to-value ratio of more than 120%. Of the properties in foreclosure with a loan-to-value ratio of more than 120%, 45.8% had more than one loan, the Irvine, Calif., data firm said.