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The Government Accountability Office (GAO) has identified dozens of cases where mortgage companies appear to have illegally foreclosed on the homes of active duty military service members.
The finding was among many problems revealed in a new study of illegal, unethical or inept foreclosure practices by financial companies that were working with home mortgages of borrowers who were behind on their payments.
The study, released Thursday by several congressmen including Sen. Al Franken, D-Minn., led to calls for national standards for foreclosure processes and better government oversight.
Isn’t this partially what contributed to the burst of the housing bubble in 2007? The latest Florida mortgage deal carries a potential taxpayer burden that could leave you wondering what happened to the last four years.