Non-performing second with first in forclosure

[Sandy Uhlmann]

I am a note newbie who was reviewing a recently released tape of non-performing seconds.  I noticed that with this tape, there was very few that were behind performing firsts and nearly half of them listed the first as in foreclosure.  Approx another half listed the senior as not recording on credit or outdated.  Obviously, these loans were very inexpensive but other than that, I am having a hard time understanding the advantage to purchasing a NP second if the senior loan is listed as under foreclosure.  Can anyone shed some insight into this?  Do these get purchased just in the hope that the first gets reinstated or does a loan mod?