Obama to announce new mortgage relief for servicemembers
By LEO SHANE III
Stars and Stripes
Published: March 6, 2012
WASHINGTON — President Barack Obama will detail new protections and payouts for troops victimized by questionable mortgage practices at a press conference Tuesday afternoon, according to a senior administration official.
White House officials have already offered some details of the new programs, part of a $26 billion settlement announced last month between the government and the country’s major lenders. The agreement could provide mortgage relief to millions of homeowners and thousands in compensation to subset of that group.
Obama is expected to discuss plans to review thousands of military mortgages since 2006 for irregularities, and payouts of at least $116,000 for families hurt by improper foreclosure practices.
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