BANKS ABUSE MILITARY FAMILIES: WRONGFUL HOME FORECLOSURES AND EVICTIONS

www.CharlesJeromeWare.com

America's largest banks now admit that they, among other financial institutions, have wrongfully and abusively foreclosed on the homes of more than 700 military families during the housing crisis.  The real number of victims is surely much higher than reported by Bank of America (BoA), Citigroup, JP Morgan Chase and Wells Fargo.

These banks also now admit that they have seized numerous homes and evicted families of other borrowers who were current on their mortgage payments.  The lists are growing of unlawful bank practices and their victims.

Bank of America, Citigroup, JPMorgan Chase and Wells Fargo uncovered the foreclosures while analyzing mortgages as part of a multibillion-dollar settlement deal with federal authorities, according to people with direct knowledge of the findings. In January, regulators ordered the banks to identify military members and other borrowers who were evicted in violation of federal law.

The analysis, which was turned over to regulators in recent days, provides the first detailed glimpse into the extent of wrongful foreclosures amid the collapse of the housing market. While lenders previously acknowledged that they relied on faulty documents to push through foreclosures, the banks claimed borrowers were rarely evicted by mistake, including military personnel protected by federal law.

[for more information see, dealbook.nytimes.com/03-03-2013/ "Banks Find More Wrongful Foreclosures Among Military Members"; www.huffingtonpost.com/03-04-2013/ "Banks Find More Wrongful Foreclosures..."; www.presstv.ir/usdetail/ "Banks Find..."]

Attorney Charles Jerome Ware is renowned and consistently ranked among the best attorneys and legal counsellors in the United States. [GQ Magazine, The Washington Post, The Baltimore Sun, The Columbia Flier, USA TODAY, The Howard County Sun, The Anniston Star, The New York Times, et al.]