More than 950 service members who had their homes illegally foreclosed upon while on active duty are eligible to receive more than $123 million in settlements, the Justice Department announced Monday.
Under the Servicemembers Civil Relief Act, soldiers on active duty cannot be subject to certain financial or legal actions, including evictions and foreclosures. However, from January 2006 to April 2012 five large mortgage providers — Bank of America, JP Morgan Chase, Wells Fargo, Citi and GMAC Mortgage — foreclosed upon the service members’ homes.
“These unlawful judicial foreclosures forced hundreds of service members and their families out of their homes," said Acting Associate Attorney General Stuart F. Delery. "While this compensation will provide a measure of relief, the fact is that service members should never have to worry about losing their home to an illegal foreclosure while they are serving our country.”
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