Chairman Murray Requests Answers on Steps Banks Have Taken to Limit Foreclosures on Service Members

Washington, D.C. – February 9, 2011 – (RealEstateRama) — Yesterday, U.S. Senator Patty Murray (D-WA), Chairman of the U.S. Senate Committee on Veterans’ Affairs, sent a letter to Holly Petraeus, head of the Office of Servicemember Affairs in the Consumer Financial Protection Bureau at the U.S. Treasury Department, in response to concerns that some financial institutions were not offering protections to servicemembers provided under the Servicemembers Civil Relief Act. Among the safeguards in the SCRA, which is under the jurisdiction of the Senate Committee on Veterans’ Affairs, are a number intended to ease concerns over financial situations at home for servicemembers. Recently, however, it has come to light that some servicemembers have been improperly overcharged on their mortgages or even been foreclosed upon by lenders