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Torrey Shannon

Torrey Shannon

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The VA Joins Big Banks in the Foreclosure Business: A New Wave of Veteran Homelessness

Posted: 01/21/11 11:52 AM ET

It appears the Veteran's Administration has been flying under the radar when it comes to their contribution to the homeless veteran population. Due to a backlog in processing thousands of disability claims, military members and their families are forced to live on the streets because of foreclosures and are heading into bankruptcy courts at an alarming rate.

Most of the wounded veterans I know have waited more than six months to get their first disability check from the VA after leaving the military. By the time they got their first payment from the VA, they were bankrupt or had lost their home to foreclosure.

Once that happens, they can expect to have ruined credit for seven to 10 years, thus preventing them from buying or renting an adequate home ever again.

It is actually against the law to foreclose on a home of a servicemember for up to nine months after they leave active duty.

I recently wrote about JP Morgan-Chase wrongly foreclosing on military mortgage holders' homes when they violated military consumer protection laws that date back to the Civil War. There was no excuse for Chase to ignore the laws that have been in place for decades.

Unlike some big banks, the VA does know better. They just haven't been caught yet.

And, unlike the backlog for disability claims, the VA has had no apparent backlog on processing foreclosures for VA-backed loans. Within three months of a medical discharge from active duty, the VA has stepped in to evict multiple wounded veterans and their families.

In one case, the VA disability file of a Fort Carson soldier sat untouched for six months. This file contained a form that stated his rating should be expedited because of his hardship. Even so, nothing had even been started on his file for six entire months.

Three months into his waiting process, the VA bought his home from Bank of America for about $100,000 less than the fair market value.

Last week, the VA sent him eviction papers giving him until the following Monday to move his family of six, including a newborn, out of the home.

The Servicemember's Civil Relief Act mandates that this military family is protected from foreclosure, but the VA apparently doesn't care. They just acquired their home for a steal of a price while sitting on his VA disability claim. Why should they care?

This Fort Carson soldier is not an isolated case. His next door neighbor was also evicted through the VA foreclosure process within six months of leaving active duty, and by then they were already living with their in-laws while they waited for the first VA check to arrive.

Now meet Ben Wisenbaugh, another veteran who is a VA casualty:

Ben's disability claim was delayed for so long that he was forced into bankruptcy. Due to his ruined credit from the lack of a VA disability income, he was unable to obtain a home loan through the VA. Using what little funds he had left, he and his wife bought a substandard trailer to house his family. His home was purchased for the equivalent of one to two months worth of a middle-class mortgage payment.

He is now getting assistance through our nonprofit, Cleaning for Heroes, to bring his substandard housing up to livable standards. I am the Executive Director of this organization, so I can say that Ben is just one of many veterans who come to us in a similar situation.

The Fort Carson soldier is also a Cleaning for Heroes client. However, he is prematurely leaving our program because he will no longer have a home.

And I am not happy about this.

After my husband testified before Congress regarding the Walter Reed Scandal, we were promised that changes would be made. Promises to "swiftly" improve or fix the system made the headlines. The formation of the Warrior Transition Units and a "streamlined" process between the DoD and the VA were a step in the right direction.

Back in 2007, there were case managers available to help with filing Social Security claims prior to leaving the military, and newly hired case managers at the VA would stay on top of each veteran's needs. Beyond that, new changes like the legislation that was passed -- that I had personally introduced and brought to the attention of my Congressman -- would help to resolve the issues of damaged credit resulting from the financial hardships incurred during the recovery process.

I no longer see any adequate evidence of those changes in 2011.

The Department of Veterans Affairs recently approved $50 million in grant funding to support housing stability programs with a focus to reduce the homeless veteran population.

I say they ought to start by putting the foreclosures on hold for at least nine months, and put more focus on processing the disability backlogs, don't you?


Author's Note: If you are a military member experiencing problems with foreclosure or any other consumer issue, please visit my favorite resource for reputable attorneys who can help you assert your rights as a military consumer: www.naca.net.

Author's update: Please be aware that as of February 2011 I am no longer associated with the Cleaning for Heroes program. In March 2011 a rountable to discuss strategies on veteran homelessness was discussed during the The American Legion's 51st annual Washington Conference. John Driscoll of the National Coalition for Homeless Veterans said the number of homeless veterans has dropped from about 250,000 in 2004 to 76,000 today. According to National Coalition for Homeless Veteran's website, the number of homeless veterans exceeded 106,000 in the last CHALENG Report data. To see the full report, click here.
I have since published information exposing the VA's reaction to this article by the Public Relations Team.

 

Follow Torrey Shannon on Twitter: www.twitter.com/TorreyLisa

It appears the Veteran's Administration has been flying under the radar when it comes to their contribution to the homeless veteran population. Due to a backlog in processing thousands of disability c...
It appears the Veteran's Administration has been flying under the radar when it comes to their contribution to the homeless veteran population. Due to a backlog in processing thousands of disability c...
 
 
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06:46 PM on 02/02/2011
Our service men and women who risk their lives so that bankers can get their bonuses should know that the enemy is not the Iraqis but the the predatory bankers and mortgage "lenders". The real terrorists are in the boardrooms of our own country and they should be treated as such.
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TruelyFedUp
Ethics is nothing else than reverence for life.
01:58 PM on 02/01/2011
On the United States Department of Agricultur­e website http://www­.ers.usda.­gov/Public­ations/EIB­14/ land distributi­on/use in the US goes like this;
"The United States has a total land area of nearly 2.3 billion acres.
Major uses in 2002 were forest-use land, 651 million acres (28.8 percent);
grassland pasture and range land, 587 million acres (25.9 percent);
cropland, 442 million acres (19.5 percent);
special uses (primarily parks and wildlife areas), 297 million acres (13.1 percent);
miscellane­ous other uses, 228 million acres (10.1 percent);
and urban land, 60 million acres (2.6 percent).

Please note the last item "Urban Land". This is the land on which we live. So please notice that share that the majority of the population lives on is 2.6% of the entire land mass of the United States.

We have 27+ million unemployed people in this country, more than the entire population of Australia (22.5+ million people) yet we cannot house or feed our people without homes and food.

Require your government at every level to release viable and arable land to create self sustainabl­e villages for those Americans that need it till they are able to move on. Instead of money give seeds and the tools to help themselves­.”

Otherwise, Walk Like an Egyptian http://www.youtube.com/watch?v=yVrNV_5LhNE&feature=related
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f0rTyLeGz
Everything is falling.
10:23 PM on 01/27/2011
What a mess! Soldiers are always exploited by the upper classes... and this much ballyhooed "volunteer" army is no different. We Americans have lost our way and the military industrial complex runs us... OWNS us. Why are we spending ten times for military, security, intelligence, than any other nation? Why do we need ELEVEN aircraft carriers and forty eight nuclear subs? What ARE we doing in Afghanistan?... they are NOT a threat to our national security!
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MikeyJaii
Socialism.
01:33 AM on 01/25/2011
Veterans comes first, always!
11:21 AM on 01/24/2011
Mrs. Shannon -

I was impressed with your dedication and forthright concerns regarding the veteran foreclosures debacle. My firm handles mortgage risk management for lenders, banks, and servicers. Your article is important and your work is very much needed!

I have cited your article in my recent post to our firm's blog (http://bit.ly/gkNSeO) and to our client newsletter (http://conta.cc/fu2hKe).

Best wishes for success in your continuing work on behalf of veterans!

Jonathan Foxx
President/Managing Director
Lenders Compliance Group
08:15 AM on 01/24/2011
Doe anyone remember that during the last Administration there were 'political' jobs.  I remember a Congressional hearing where certain hiring practices 'required' that all applicants for jobs were required to sign a 'loyalty' box on that aplication which determined :- (1) the religion of the applicant - and (2) the political view of the applicant.

It has been reported that when the last President left office many of these folks were 'embedded' into various departments - and I imagine that, to this day, they are still there following a plan that was supposed to have been changed.

It would be a good idea for ALL of us to call or write our Congressmen and Senators to have them investigate this problem.   With all the budget cuts that are currently proposed I would like to see MORE (not less) employees taking care of the paperwork problem that our finest citizens have been promised - by BOTH parties.

This whole story is very worrisome.
schatsie
banks are more dangerous than standing armies
09:38 PM on 01/23/2011
that is what happens when you have embedded Republicans in the Civil Service (thank you Federalist Society) running the show....
11:26 PM on 01/22/2011
So these aren't isolated incidents,they're systemic.I'm getting that warm patriotic feeling,like I get when I visit a used car dealer.It really doesn't matter about right or left,it's just all wrong.I think our country is in deep $hyt and nobody wants to be honest about how deep it really is.
schatsie
banks are more dangerous than standing armies
09:40 PM on 01/23/2011
Bush expanded the Federal employment immensely just like Raygun and his papa.....and used Political Affiliations in the hiring practice,,,,(see Monica Goodling at Justice, a lawyer from Regency (read Pat Robertson) Univeristy running the hiring......So what we have are embedded Republicans who believe that the soldiers do not deserve anything....
Linda from Deerfield
Paying attention
01:24 PM on 01/22/2011
Within the last several years, there was a concerted effort to count and characterize the nation's homeless. The findings were that 26% of the homeless are veterans. To hear that it is getting worse is such a sad statement.
12:48 PM on 01/22/2011
Over six months to wait for a disability claim is normal, thanks to the thousands of casualties from the wars. I happily waited that long for my disability claim(s) to go through, and sure, it did take a while, but I am more than pleased with the work the VA does. I honestly thank the VA for saving me, because, at the time, I had lost every dime I had, and was in the process of making arrangements with my creditors. Thankfully, a lot of my debt was forgiven. I didn't own a home at the time, but that leads me to my next point:

A LOT,and I want to OVER-EMPHASIZE "a LOT" of people leaving active duty either: don't have the time to prepare to leave the service, or they don't prepare at all! I have sat in my VA Rep's office on numerous occasions and heard some of the craziest stuff! The one that comes to mind all the time is the Vietnam Vet who didn't know what a DD-214 was!!! When he was told he couldn't have left the service without one, he called home to his wife, and she told him, [paraphrasing]"yes, you have one. It's here along with a bunch of paperwork that I thought may be important, so I didn't throw it out". And this was a Vet trying to file a Disability/Compensation claim!

I really must say that my state takes very good care of it's vets!!
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Torrey Shannon
01:39 PM on 01/22/2011
King, I am glad to hear you were satisfied with the help you received at the VA. But one thing alarmed me...your comment about the "forgiven" debt. Did you realize that your debt wasn't really "forgiven" but settled for less than the full amount, which means that the debt (or a portion of it) was charged off. A chargeoff on your credit report is just as damaging as a bankruptcy, if not more. And if you have a chargeoff that you end up paying in full later...it's still a chargeoff. I paid $24K back to my creditors after my husband was injured (I gave up my job to care for him fulltime) and even though I did the right thing to pay back my creditors and not file a BK, my credit was just as bad. Nice, huh?

Then let's look at the residual effects. The forgiven portion must be reported to the IRS as earned income, and if your creditors are like most, you will NOT get a 1099 form to file with your taxes. In a couple of years you will then have the IRS knocking to collect their portion on those "forgiven" debts.

So the panacea of the "acceptable by you" wait time is not as pretty as you may think. Sometimes it takes years to come out of under that VA disability wait period in the form of the credit damage that it created.
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camanokat
Outta this world
05:28 PM on 01/23/2011
That's why bankruptcy is a legitimate financial tool that people should not be ashamed to use.
schatsie
banks are more dangerous than standing armies
09:42 PM on 01/23/2011
Excellent information...thank you!
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La Bennett
12:31 PM on 01/22/2011
If I write what I am thinking, it would either be "moderated" or worse...So, I will just say that I am furious at the treatment of our veterans. How Dare they!!!!
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Velma McKenzie
Advancing nonprofit missions and fundraising strat
12:52 PM on 01/25/2011
How dare we let them!
10:17 AM on 01/22/2011
All of this is happening under the presidency of Barak Obama, who CONTINUED the bail out policy of the Big Failed Banks.

As long people believe that the bail outs are working, because they can go back to the mall, instead of credit for MASSIVE INFRASTRUCTURE PROJECTS, the more citizens will be kicked out to the curb.
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Sister Bluebird
10:15 AM on 01/22/2011
None of this surprisese me. After all the VA is a bussiness. Or they try to run it like one. The other thing is, not all problems vets have emerge within 9 months of disharge. Some take years to develope. So health problems due to chemical exposure or psychological trauma might not emerge for years and then suddenly the Vet is looking for assitance and the VA plays dumb asking why they didn't apply way back when. This is especially true of MST survivors from the military. It is not the best care, sometimes its not even good care. And they harass some students via the GI Bill program with bogus announcements of constant over payment and the like. These letters always arrive at Mid Terms or Finals--when one is alread stressed to the max.
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woodnwire
08:23 AM on 01/22/2011
every time i hear sarah cry out "support our troops" all i can do is shake my head in shame. why cant the tea party folk do something for homeless vets? they always use that battle cry at all their rally s. oh that's right. they are too busy seeking out targets .
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woodnwire
08:13 AM on 01/22/2011
veterans have been had. used like a condom and flushed down the toilet. one moment ,they're the darlings of every professional speech giver, the next moment, they're being called homeless bums who wont get a job,harassed by our police and thrown in jail. maybe the tea party will do something to help...hahahahaha