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Bud Zeller's Blog

By Bud Zeller | Broker in Placerville, CA

How the U.S. Mortgage Settlement can 'Help Military Members'

Are you're an active member of the armed forces or a veteran and believe you've been mistreated by your mortgage lender?

Federal officials are urging you to report those issues.

A $25 billion mortgage settlement between 49 states and five of the nation's largest banks -- Bank of America, Citi, JP Morgan Chase, Wells Fargo and Ally -- includes protections for service members. Under the settlement, those banks have agreed to provide consumers relief, everything from granting short sales to modifying mortgages to make them more affordable for homeowners.

The official watchdog of this settlement, Joseph Smith, reminded military members and veterans this week that the mortgage deal, which settled allegations of foreclosure abuses, has special provisions for them.

Read the full story at: http://www.utsandiego.com/news/2012/nov/14/mortgage-settlement-and-military/

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