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View Full Version : Illegal Forclosures on Active Duty Military



inventor
01-30-2011, 12:50
This has been a common story for years.

reservist-in-war-against-foreclosure: Personal Finance News from Yahoo! Finance (http://finance.yahoo.com/loans/article/111958/reservist-in-war-against-foreclosure?mod=loans-home)

I believe at this point, he, or another veteran he designates, is legally allowed to walk heavily armed into the bank's corporate headquarters and just go bugnuts whacko.

Straegen
01-30-2011, 17:21
This one should be relatively easy. They should go back to the purchaser do whatever they need to do to buy that property back and reinstate the residence to the serviceman. As a good faith they should close out the mortgage. It has probably already cost them significantly more than that to fight this thing and it certainly doesn't look good in the public.

IMO, banks should not be allowed to loan on homes outside of their community. If banks can get too big to fail, then they shouldn't be allowed to be that big.

davepoff
01-30-2011, 20:10
I think that an example should be made with this bank. I don't think he would be able to get back the property, depending on if the current owner is now occupying it. If it is not occupied this yes the bank should get this property back for him, but I think he should be reimbursed the valued amount and what it has cost him since his family was foreclosed on.

tacofranklin
01-30-2011, 21:02
I went through an issue with Verizon when I got the call to go to Iraq. I sent my orders 3 times and they still were not terminating my service. After three months of active duty training, I was still trying to terminate the service. That same month our mission to Iraq was cancelled and I was sent to a homeland security mission (Verizon had no knowledge of order revokation). Even though I stayed stateside, I still wanted to ditch verizon due to the service they provided. From start to finish, it took about 5 months to get Verizon to end my service contract. During those 5 months, i did not use my verizon phone at all.

As far as the scenario in this thread, when most service members get sent to a occupational school, some servicemembers get a pay increase, some take a pay cut, so i feel for this guy's pain.

Now I cant say whether or not the family was paying their mortgage when he was deployed, or making partial payments, but i do see some people misread the protection act and they take advantage of it thinking its a way out of paying for their debts. Most all banks/creditors/service providers respect this act and are really easy to work with, they just dont want fraudulent claims and require a copy of mobilization orders. I would have also submitted orders sending me to occupational school.

I want to know why orders were not submitted to the bank. Orders should have been sent shortly after or before mobilization...If you are going to war and your state did not generate orders, the state should be kissing this guys shiß loch. I am quite sure that orders were generated, you cannot as a national guardsman get sent OCONUS without receiving unit or individual title 10 orders.

On the other part of the scale, the bank should have allowed some kind of grace period to get the orders in as a courtesy. If at any time orders were submitted before foreclosure, they should be labeled as commercial douchebags and should be heavily fined not only by the service member, but by the federal courts. I think that companies who do this should be trying to defend their butt off trying to validate why the hell they should not be banned for doing bidness in the United States.

Nothing in the report stated that activation orders were submitted.

I feel that my response is going to generate plenty of flame...so I will don my flame retardant suit.

/endRant

davepoff
01-30-2011, 22:42
Yes, there are several things that could have been done on both sides to have somewhat alleviated this. Like you said had they been paying their mortgage, what was their reason for not submitting a copy of his orders, etc..