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Over 700 military members were victims of wrongful foreclosure Atlanta, GA

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Over 700 military members were victims of wrongful foreclosure

Foreclosue Sign on Top of For Sale Sign in Front of House

We’ve written a few times in the past about the settlement that was recently reached between the country’s largest banks and federal financial regulators. The settlement, as we’ve previously discussed, resulted from an investigation into lending and foreclosure practices by the nation’s most powerful banks that revealed significant wrongdoing. Among other wrongful conduct that was uncovered, there were many cases in which banks were foreclosing on borrowers who were not in default on their loans, in other cases banks were denying loan modifications without cause for borrowers who could have stayed in their homes.

Recently as a part of the multibillion-dollar settlement agreement, banks have been cooperating with federal investigations into the specifics of many of the wrongful foreclosure cases, which has lead to the discovery that many victims of wrongful foreclosure were members of the military. Over 700 members of the military suffered from a foreclosure during the housing crisis even though they were up to date on their payments, according to recent reports.

Members of the military are protected from foreclosures while they are away on active duty assignments under the Servicemembers Civil Relief Act, which requires that banks get a court order before beginning a foreclosure.

These borrowers, along with others who qualify under the specifics of the settlement, will receive payments and other types of remediation from the banks that will help undo some of the damage caused by these wrongful foreclosures. Still, as many Atlanta readers know, the stress and difficulty of dealing with a foreclosure cannot be completely erased by a financial settlement.

Source: DealBook, “Banks Find More Wrongful Foreclosures Among Military Members,” Jessica Silver-Greenberg and Ben Protess, March 3, 2013

More information about mortgage assistance and loan modifications can be found on our Gainesville foreclosure prevention page.

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

Phone: (404) 685-8800

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Gingold & Gingold LLC
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Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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