As our military was overseas fighting for us, the banksters back home were conducting illegal foreclosures conducted in violation of the Service Members Civil Relief Act.
With many vets suffering from war related illnesses, the realtor community can provide a valuable link to displaced veterans who may have fallen “off the society’s radar”.
As part of the settlement each lender must set up a hotline so service members don’t have to rely (snail) mail finding them.
So let’s get this settlement info out to any service members that were victimized so the funds don’t go unclaimed.
The Department of Justice has announced Bank of America, JPMorgan Chase, Citi, Wells Fargo and GMAC Mortgage have agreed to pay $123 million dollars for conducting 952 non-judicial foreclosures conducted in violation of the Service Members Civil Relief Act.
Bank of America has already paid approximately $35.37 million to 286 eligible service members as part of a separate settlement with the DOJ.
The non-judicial foreclosures in question took place During Jan. 1, 2006 thru Apr. 4, 2012.
Under the terms of the SCRA, non-judicial foreclosures are prohibited against service members who are in military service or within the applicable post-service period, as long as they originated their mortgages before their military service began.
Interested in purchasing a foreclosed home? Take a look at the foreclosed homes available for purchase at the following link:
J.R. Thrasher BRE Lic: 01888955 Keller Williams Realty www.SanDiegoRealEstateVeterans.com www.Facebook.com/SanDiegoRealEstateVeterans 619-929-0105 Cell 888-959-7089 Fax