All Posts Tagged With: "vets"
Vets Get $22 Million to Settle Mortgage Foreclosure Claims
Two national mortgage lenders will pay more than $22 million to settle claims under the Servicemembers Civil Relief Act (SCRA) that they allegedly violated a law meant to insulate military members from illegal foreclosure, according to the Department of Justice. A Bank of America subsidiary improperly foreclosed on about 160 service members from January 2006 [...]
15Jun2011 | Chris Birk | 0 comments | Continued
Citi Rolls Out Mortgage Relief Program for Disabled Veterans
Disabled veterans with Citi-owned mortgages may be able to tap into a special relief program recently announced by the financial giant. The program cuts interest rates for eligible service members and waives late fees and other past due amounts. The 2.5 percent rate reduction covers a two-year window. Service members are required to provide documentation [...]
31May2011 | Chris Birk | 0 comments | Continued
Tornado Relief Sought for VA Mortgage Loan Borrowers
The VA is asking mortgage lenders and servicers to provide relief to military borrowers in areas affected by April’s devastating tornadoes. In a circular released earlier this month, the agency encourages servicers to waive late charges and halt credit reporting for veterans whose homes, families or livelihoods were impacted by the storms, which tore through [...]
18May2011 | Chris Birk | 1 comment | Continued
Freddie Mac halts military service member foreclosures
Large numbers of American service members struggling to pay their mortgages will receive a foreclosure reprieve through 2011. Freddie Mac in mid-December announced a sweeping foreclosure moratorium for service members who are released from active duty. They’ll get at least nine months of safety net, provided their mortgages are backed by the government-sponsored enterprise. In [...]
5Jan2011 | Chris Birk | 0 comments | Continued
Special Mortgage Relief Likely For Gulf Coast Veterans
Veterans along the Gulf Coast whose livelihood has been affected by the Gulf oil spill might be able to secure mortgage relief. Several national mortgage companies have already assured veterans that late charges and negative credit reporting will be suspended in the wake of the disaster. The Department of Veterans Affairs is now pushing all [...]
13Sep2010 | Chris Birk | 0 comments | Continued
Veterans, VA Loans Weather Wave of Foreclosures
Foreclosure filings dipped slightly in May as the nation’s lenders continued to slog through almost two years’ worth of distressed properties, according to online foreclosure hub RealtyTrac. Ten states accounted for more than 70 percent of the 322,920 filings last month. California alone accounted for more than 22 percent of that total. In all, foreclosure [...]
17Jun2010 | Chris Birk | 0 comments | Continued
Should We Tax Our Vets?
The IRS has created an excellent Web page — Tax Information for Members of the U.S. Armed Forces — which explains tax issues for those now on active duty. There are a huge number of rules, most of which greatly benefit those now fighting overseas. But when you look at the forms, deductions, exceptions, alternatives, [...]
4Jun2010 | Peter G. Miller | 0 comments | Continued
First-Time Home Buyer Credit Still On For Vets
While the tax credit for first-time home buyers and sellers largely ended in April, the credit actually continues for active-duty military personnel until April 30, 2011, something that could be important for VA loan borrowers and veteran sellers. The $8,000 tax credit (along with its $6,500 companion credit for existing homeowners) spurred an uptick in [...]
3Jun2010 | Chris Birk | 1 comment | Continued
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