During the ongoing mortgage meltdown fiasco, we have seen a lot of military personnel lose their homes thanks to the same problems faced by the general population. We have been in underwater, second mortgage rates have jumped in price to the point of being unpayable, and job loss or medical issues have hammered the population.
In all this, we have also found many military families have lost their homes because they were improperly foreclosed upon. And by “we” I mean federal investigators.
What did they do? For starters from MSNBC.com,
The law the lenders were accused of violating, the Servicemembers’ Civil Relief Act, provides protections to military personnel. Under the law, they can’t be evicted and creditors can’t seize their property while they’re on active duty.
The Justice Department began its investigation earlier this year after separate inquiries from the U.S. Marine Corps and Sgt. James Hurley, whose home in Hartford, Mich., was foreclosed upon by Saxon in 2005 while he was in Iraq. Hurley settled with Saxon earlier this year for an undisclosed amount.
Shame!
It is an honor to salute all our military personnel today – both currently serving, those who served in the past, and for the members and their families who gave their lives for the freedom we all enjoy today. Thank you, our military families!
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