Military.com has published an informative article on JP Morgan-Chase’s agreement to pay more than $2 million to about 4,000 servicemember mortgage holders who were overcharged interest and threatened with foreclosure while they were on active duty. Chase actually foreclosed on 14 servicemembers’ homes. Under the Servicemembers Civil Relief Act, troops may have their mortgage rates lowered to 6 percent and are protected from foreclosure. Chase has claimed that its conduct was a “mistake.” You can access the complete article here.
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