Banks May Have Illegally Foreclosed On Nearly 5,000 Military Members

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Banks May Have Illegally Foreclosed On Nearly 5,000 Military Members

Banks May Have Illegally Foreclosed On Nearly 5,000 Military Members

HuffPO-

Even those people putting their lives on the line for their country may not be safe from the American foreclosure crisis.

Ten lenders are reviewing close to 5,000 foreclosures of homes belonging to active-duty service members in an attempt to discover if they were carried out improperly, according to data from the Office of the Comptroller of the Currency, cited by the Financial Times. The OCC’s report is based on projections prepared by the lenders and and their consultants. Bank of America said it is reviewing 2,400 foreclosures of homes belonging to active-duty service members and Wells Fargo said it’s looking at nearly 900 cases. Citigroup is reviewing 700 foreclosures, the bank said.

[HUFFINGTON POST]

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