10News.com

10 In The Community
The Law TV
Show Your Love
Sustain San Diego
10 News Leadership Award
The Cool TV
San Diego News
Share
E-Mail News Alerts
Get breaking news and daily headlines.
Browse all e-mail newsletters
Related To Story

Filner Blames Banks For Military Foreclosures

Rep. Bob Filner Says Banks Not Helping Military Families Facing Foreclosure

POSTED: 3:54 pm PDT September 7, 2010
UPDATED: 7:56 pm PDT September 7, 2010

Local Rep. Bob Filner lashed out at banking institutions Tuesday and said lenders should be more lenient with members of the military who are facing foreclosure.

"I'm calling it a foreclosure tsunami because it's hitting far more people," said Filner.

Filner said that tsunami is devastating thousands of troops and their families.

"Those who are fighting in Afghanistan or on assignment in Iraq are facing foreclosure now," added Filner.

"I called the banks on numerous occasions and explained our hardship and they said due to investor guidelines they couldn't do anything for us," said Gabriella Stumetz.

Stumetz, whose husband is serving overseas, is already juggling a job, duties as a mother and is caring for her disabled brother who was injured during combat. Now, she's battling her lender.

"They freeze your accounts where you're not even able to pay for your gas or living expenses. It's very, very difficult," she said.

Filner, who is chairman of the House Committee on Veterans' Affairs, blames "the banks, who we gave $700 million, $800 million to stop these foreclosures."

Filner said he is authoring a bill he will introduce to Congress next week, and it will include a one-year foreclosure moratorium for service members returning from active duty. The bill will also include a measure that will allow disabled veterans to use just 25 percent of their income to pay for their mortgages, with the state subsidizing the difference.

"We say we support our troops, but how do we let them be foreclosed on? This is a disgrace," said Filner.

In the meantime, Faith Bautista with the counseling agency Mabuhay Alliance is helping families like Stumetz's.

"Military, not military, it's computer-generated where if you don't pay 3 to 6 months you get a notice immediately," said Bautista.

Filner said his bill has the support of House democrats but admitted getting Republicans to support it will be a challenge.
The following are comments from our users. Opinions expressed are neither created nor endorsed by 10News.com. By posting a comment you agree to accept our Terms of Use. Comments are moderated by the community. To report an offensive or otherwise inappropriate comment, click the "Flag" link that appears beneath that comment. Comments that are flagged by a set number of users will be automatically removed.

Advertiser Links

Sponsored Links