Marc Guzman's West County Blog
Marc Guzman is the Technology Manager and a Broker-Associate at Security Pacific Real Estate (Lic# 01397719) in West Contra Costa County of Northern California. Currently specializing in residential sales in the Bay Area and responsible for over 800 transactions since 2003. To subscribe to my blog, click 'Follow on Tumblr' at the top of the page or sign up for the RSS Feed. For past articles, enjoy the easy navigation in the 'Archives' or use the Search option below. Enjoy!
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Several months ago, the Department of Justice settled with Bank of America in which Bank of America will pay a total of $20 Million to 160 servicemembers who were improperly foreclosed upon between January 2006 and May 2009. Each servicemember in the settlement will receive at least $116,875 for the bank’s violation of the Servicemember Civil Relief Act. This law prevents lenders from foreclosing on servicemembers while they are on active duty.
An item to note here is that most of the foreclosures listed in this settlement occurred when they were under Countrywide Home Loans before Bank of America took over.
