JPMorgan overcharged military families, improperly foreclosed

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JPMorgan Chase & Co., the second-biggest U.S. bank by assets, last month said it would return money and houses to families who were overcharged on mortgages. the civil rights of soldiers during.

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No. 2 bank overcharged troops on mortgages. One of the nation’s biggest banks – JP Morgan Chase – admits it has overcharged several thousand military families for their mortgages, including families of troops fighting in Afghanistan. The bank also tells nbc news that it improperly foreclosed on more than a dozen military families.

Marine veteran suing after losing home to foreclosure two months after tour in Iraq The American Legion is calling upon all U.S. financial institutions that handle mortgages for military families to make sure they are complying with provisions of the Servicemembers Civil Relief Act (SCRA).Last week, NBC News reported that one of America’s largest banks – JP Morgan Chase – had been overcharging about 4,000 servicemembers on their home loans, and had improperly foreclosed.

overcharging American servicemen and improperly foreclosing on 14 veterans. NBC News at the time reported that JPMorgan admitted "mistakenly overcharging 4,000 military families for their mortgages, Around 4,000 military families are to receive refunds from banking giant JPMorgan Chase after it overcharged on their mortgages.

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Our friend Denise Richardson of givemebackmycredit.com has posted an article about a recent case where the “big bank” JP Morgan Chase’s errors caused thousands of military families’ mortgages to be overpriced. Paying too much for mortgages ruined the families’ credit scores and was even the cause of as many as 14 wrongful foreclosures.

Unfortunately, the numbers in overcharging and foreclosing on the troops have increased since the banks’ statement last month. Last month, Chase stated tht it overcharged over 4,000 troops and foreclosed on 14 homes. Now, 18 homes were found to have been improperly foreclosed on.

 · Banking giant JPMorgan Chase & Co., which admitted earlier this year that it had improperly overcharged thousands of military families on their mortgages and foreclosed on the homes of servicemembers in Iraq and Afghanistan, will pay $26 million to settle the class action lawsuit that brought the activity to light.

 · No. 2 bank overcharged troops on mortgages. One of the nation’s biggest banks – JP Morgan Chase – admits it has overcharged several thousand military families for their mortgages, including families of troops fighting in Afghanistan. The bank also tells NBC News that it improperly foreclosed on more than a dozen military families.

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