Active duty soldier sues over foreclosure threat
The nation’s biggest home mortgage lender started foreclosure procedures in violation of the law against a Strafford man on active military duty as a result of a one-day lapse in insurance payments, according to a suit filed last week in US District Court in Concord.
Kurt and Cheryl Eldredge claim that Countrywide Mortgage Company refused to accept payments in January and February 2006 while Kurt was on active duty in Fort Benning, Ga., even after the couple straightened out their problem with the insurance company,
Cheryl Eldredge pleaded with Countrywide representatives on an almost a daily basis, sometimes several hours per day, to try to comes to terms, and the couple said it passed on their military orders to the company, according to the suit.
Despite this, the company scheduled a foreclosure sale for May 28, 2006, forcing the couple to refinance with another company at unfavorable terms – a 12 percent annual interest rate, or $1,452.37 a month, more than $962.12 per month more than they were paying to Countrywide.
The Eldredges allege that Countrywide, among other charges, violated the Service Members Civil Relief Act. The company did not respond to a request by NHBR Daily to comment on the lawsuit. – BOB SANDERS