Washington, DC-Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, applauded the House Veterans Affairs Committee’s passage of legislation he introduced with five other Ranking Members earlier this year to help protect servicemembers, surviving spouses, and veterans with disabilities from improper home foreclosure actions.
“This bill will help prevent banks from foreclosing on servicemembers fighting overseas, surviving spouses, and veterans with disabilities who make tremendous sacrifices to protect our nation," Cummings said. “We owe it to these brave men and women to pass this legislation and send it to the President’s desk."
The Committee incorporated H.R. 1842, the Military Family Home Protection Act, into a broader legislative package to strengthen home foreclosure protections, employment, and educational assistance for our nation’s veterans and military servicemembers.
H.R. 1842 is supported by the American Legion, Military Officers Association of America, Veterans of Foreign Wars, Iraq and Afghanistan Veterans of America, Paralyzed Veterans of America, Gold Star Wives of America, and Disabled American Veterans.
Yesterday, Holly Petraeus, the Assistant Director of the Office of Servicemember Affairs within the Consumer Financial Protection Bureau, testified at a Senate Veterans Affairs Committee hearing that:
“From July 21, 2011 through July 6, 2013, the Bureau received approximately 4, 516 complaints from veterans and their family members. The complaint volume from veterans has steadily increased over time. … About 49 percent of the complaints from veterans have been mortgage complaints."
In May, Petraeus issued a semi-annual report finding that of the 3,455 complaints received from servicemembers, veterans, and their families, the majority were mortgage complaints, and of those 58% concerned loan modification, collection, and foreclosure.
Cummings has been one of the leaders in Congress aggressively investigating illegal foreclosures, inflated fees, and other abuses by banks against servicemembers, veterans, and their families.
