FOX25 Investigates Soldier's Car Lease, Bank Gives Car

Bank decides to relieve car lease for active duty soldier after FOX25 story 
FOX 25 WFXT 
by: Kerry Kavanaugh 
Feb 20, 2016 

PEABODY, Mass. — A Peabody soldier was called to active duty and at first a bank wouldn't give her any relief on her car lease. 

After FOX25 brought the situation to the bank's attention, not only did they forgive the lease, Chase Bank is allowing the soldier to keep the car.

"She's been paying the lease for three years...they should give back to our soldiers a little something," Roxanne Katz, the soldier's mother.

Roxanne Katz said as long as she can remember, her daughter has wanted to serve her country. When she got the call for basic training, the Peabody soldier, Kristina Katz, had just two weeks to get her affairs in order. She tried to terminate the car lease on her Mazda 6, which she would no longer be able to drive or afford. She still had a year left on the 48 month lease, but her family said at first, Chase Bank wasn't budging.

"They sent her a letter saying that they denied the early termination," said Roxanne Katz.

She has since shipped out to her basic training and her family was still trying to get her some relief. FOX25 Investigates learned relief on car leases falls under the Service Members Civil Relief Act.
read more here

Banks Pay Back Troops After Foreclosures

Banks Issue $123 Million to 952 Troops for Illegal Foreclosures 
Military.com
Michael Hoffman
February 10, 2015

"These unlawful judicial foreclosures forced hundreds of service members and their families out of their homes," Acting Associate Attorney General Stuart F. Delery said in a statement.

More than 950 service members will receive over $123 million from a settlement announced Monday by the U.S. Justice Department with five mortgage servicers for non-judicial foreclosures in violation of the Service Members Civil Relief Act (SCRA).

Under the National Mortgage Settlement, 666 service members and their co-borrowers will receive $88 million from GMAC Mortgage, Citi, Wells Fargo and JP Morgan Chase. Another $35 million was already paid out to 286 service members and their co-borrowers from Bank of America.

The 952 service members will receive $125,000 plus any equity in the lost property and interest on that equity under the settlement from the lawsuit. 

Co-borrowers will receive compensation for any of their share of lost equity. A non-judicial foreclosure allows a bank or mortgage servicer to sell the home without having to file a lawsuit against the owner.

A "notice of default" is issued and the home is then sold at public auction.
read more here