Junior lien mortgage debt proliferated during the housing market run up as borrowers used piggyback loans to buy homes or extract home equity. Defaulted second liens now trade in the distressed debt market at large discounts. In this paper, we examine the previously unstudied second lien cure rate topic and find that the size and status of the associated senior mortgage is an important cure rate predictor as are other borrower debt usage characteristics revealed in credit bureau data. Results should be of interest to distressed debt investors, lenders, and policymakers alike.