Mortgage Firms Illegally Foreclosed on Military Service Member Homes

One has to wonder do our magnificent military not have enough responsibilities defending the USA. The last thing they want to have to deal with is a bank or finance house attempting to illegally foreclose on military service member homes.

Mortgage Firms Illegally Foreclosed on Military Service Member Homes
Mortgage Firms Illegally Foreclosed on Military Service Member Homes

This report confirms that, just that has happened with fifty military homes – quote – Two of the nation’s largest mortgage firms illegally foreclosed on the homes of “almost 50″ active-duty military service members, according to a Thursday Report by the Government Accountability Office.
The report does not identify the two mortgage companies. GAO investigators attributed the finding to federal bank regulators, who recently completed a three-month probe into allegations of improper foreclosures carried out by the nation’s 14 largest home loan servicers.
The GAO report, which focused on problems in the mortgage industry and the lack of federal oversight, is the first official study to feature a partial tally of military families whose homes have been illegally seized. The 50 or so wrongful foreclosures were discovered during regulators’ review of only about 2,800 loans that experienced foreclosure last year.
‘No excuses the Feds should prosecute the mortgage companies involved in this unacceptable crime!’

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