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Lawmakers Call for Military Foreclosure Investigation
Tuesday, 12 July 2011 18:58

Senator Jay Rockefeller and representative Elijah Cummings called today for a formal investigation into the level and scope of illegal foreclosure proceedings brought against active US service members in recent years, setting the stage for a possible new chapter in the foreclosure saga.  This particular twist has its origins in poor understanding on the part of major lending institutions regarding a somewhat obscure federal law known as, the Servicemembers Civil Relief Act.  This law was/is intended to set boundaries and restrictions to how banks may proceed with a foreclosure when an active duty member of the US military is the subject, and was unfortunately unknown to many bank employees working those cases - if not outright ignored in other instances.

JP Morgan earlier this year admitted to its own guilt in having mistakenly foreclosed on the homes of at least 27 service members.  As a result, they have offered to forgive the debt of all effected parties, as well as to reimburse for the losses victims whose homes were sold out from under them due to the foreclosures.  Bank of America has logged an even larger number of mishaps: 160 wrongful foreclosures that in May led to a settlement with the Justice Department for $20 million.  Beyond these specific cases, however, the worry is that the issue may be much more widespread than present figures might indicate.

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Agent Bender: Mission Accepted!
Tuesday, 12 July 2011 17:58

July 12th, 2011 - although it's not fully finished yet, real estate agent Carl Bender's presence on the Internet is officially launched!!  This site will be dedicated to my observations and insights into the world of Northern VA and DC real estate, as well as getting the word out on pertinent industry news and information.  Of course, from time to time I might meander off into discussion of more lifestyle related topics... or potentially things having nothing to do with real estate at all.  That's just how we're going to be doing things around here.  The focus, however, will always be on getting my point of view on the local real estate market out there so that it might be of benefit to any readers I may acquire as the months and years go by.

And remember... should you ever be looking for a top-class agent with great attitude and personality to take on *your* real estate related mission, just write me an email or contact me on my cell and I will be happy to provide you with the same exemplary service that I have provided to every one of my clients since Day 1 in the business.

 
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Coldwell Banker Residential Brokerage
4500 Old Dominion Dr, Arlington VA 22207
Phone: (703) 524-2100 Fax: (703) 524-9014