The following statement was released by Congresswoman Loretta Sanchez in response to news that several banks may have foreclosed illegally on the homes of thousands of active-duty military members currently fighting in Iraq and Afghanistan. Data recently released by the Office of the Comptroller of the Currency indicates that nearly 5,000 military members may have been improperly foreclosed upon.
“Hardworking people all across the country have been the victim of improper foreclosure, but this recent epidemic of wrongful military foreclosures is particularly atrocious,” said Sanchez. “Soldiers have an extra layer of legal protection in mortgage lending, thanks to legislation that restricts foreclosure of properties owned by active-duty members of the military. I will fight for these nearly 5,000 service members who have been wronged. They deserve to get their homes back where possible and deserve monetary damages in cases where the home has been sold. While our troops fight for us abroad, they should not have to worry about losing their homes stateside. We must ensure that justice is served.”