New York probes military foreclosures - FT

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New York probes military foreclosures – FT

New York probes military foreclosures – FT

Another great job by Shahien Nasiripour

FT-

Eric Schneiderman, New York attorney-general, has launched an investigation into possibly unlawful foreclosures on the mortgages of active-duty members of the US military.

Data released last week by a federal banking regulator suggested that 10 leading lenders may have seized the homes of about 5,000 service members in violation of the Servicemembers Civil Relief Act. The nearly-decade old law restricts foreclosures on the homes of members of the US armed forces while they are on active duty.

[FINANCIAL TIMES]

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