Skip to comments.Banks to Pay $22 Mil for Military Foreclosure Errors
Posted on 05/28/2011 9:34:27 AM PDT by WOBBLY BOB
Bank of America and Morgan Stanley have agreed to pay more than $22 million combined to settle federal civil charges on improperly foreclosing on military personnel, The Associated Press reports.
The latest home or commercial real estate news Sample Between 2006 and 2009, the mortgage lenders foreclosed on 178 military members in 22 states without getting court approval. The military members affected will each receive $125,562, on average. The banks will also continue to investigate whether improper foreclosures occurred in 2009 through 2010.
(Excerpt) Read more at ibtimes.com ...
those banks ought to be ashamed...
Damn, how’d it happen that the actual troopers damaged will receive the dough? Don’t the lawyers and the Treasury almost always shortstop those damage awards??
Wait till Obozo finds out. He’ll be soooo pissed.
Free house AND $125,000 — where do I sign up?
Bank of America
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