Feds: Bank of America Illegally Foreclosed on Active Service Members’ Homes
EmailAt least 160 active members of the U.S. military had their homes “illegally foreclosed upon” by the Bank of America, according to the Justice Department.
While Americans honor their men and women in the armed forces today, the Justice Department announced that Bank of America’s home loan servicing subsidiary will have to pay $20 million to about 160 service members, as part of a settlement agreement. Each service member who lost his or her home in an unlawful foreclose will be paid a minimum of $116,785 — plus compensation for any lost equity that came as a result of the foreclosure. The foreclosures settled today came between 2006 and 2009.
Bank of America agreed to provide information about its foreclosures from mid-2009-2010 and will pay damages in the same minimum amount to those service members whose homes were illegally foreclosed upon during that time period. The review of those foreclosures is on-going.
“The men and women serving our nation should not have to worry about a bank foreclosing on their home while they bravely serve our country,” said Thomas E. Perez, assistant attorney general for the Civil Rights Division. “The Justice Department will vigorously enforce the laws that protect service members while they do the difficult and necessary work of protecting our country.”
The Justice Department said that beginning on Nov. 14, 2011, letters will be sent to 157 service members to notify them of the amount of money that they may receive under the settlement. The settlement is designed to compensate the service members for the bank’s alleged violation of the Service Member Civil Relief Act between 2006-2009.
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“At least 160 active members of the U.S. military had their homes “illegally foreclosed upon” by the Bank of America, according to the Justice Department.” ……And what of the crime by the New Black Panther Party? Mr Holder, did the other to protect and serve only those citizens YOUO choose to?
Posted by: deanbob | November 11, 2011, 3:34 pm 3:34 pm
Well, at least this government finally did something right.
Posted by: Rick McDaniel | November 11, 2011, 3:42 pm 3:42 pm
That’s right republicans, lets de-regulate the banks that will fix things. Maybe if we de-regulate them enough we’ll have the pleasure of getting into the same financial situation we did three years ago. When are you republicans going to learn, the corporations worry about their own interests, its time you started to worry about your own middle class interests.
Posted by: tmferretti | November 11, 2011, 4:15 pm 4:15 pm
Fed Judge: Calif. School Was Right to Forbid Students’ American Flag T-Shirts on Cinco de Mayo. According to U. S. District Court Judge James Ware, the district did not violate the students’ first amendment rights. The judge also found that officials‘ concern over the potential violence that could be incited by the students’ pro-American outfits justified the school’s actions.
Posted by: deanbob | November 11, 2011, 4:27 pm 4:27 pm
oddly enough this bank got one of the biggest bail outs from this administration. b of a is a bad bank to to business with whether its routine customer service and atm feesor commercial lending. i quit using b of a a long ime ago when they charged you to use a teller if you had an atm account.i pulled every dime out and went to a local bank.
moreover many of their employees english speaking capiblities are challanged, at leas in the bay area.
Posted by: catman | November 11, 2011, 5:02 pm 5:02 pm
my name is lutricia my home is in bankrucy today because of problems with modifying my home .by bank of america.
Posted by: lutricia rogers | November 22, 2011, 5:02 pm 5:02 pm