The Securities and Exchanges Commission announced charges against Goldman Sachs for failing to disclose information to investors about the sale of mortgage investment vehicles which are at the center of today’s foreclosure crisis. While this is a good first step in uncovering some of the abuses that occurred in the mortgage meltdown we still need to go further. This type of investigation hopefully will be used to shine the light on the broader abuses that occurred. Foreclosure defense attorneys have been sounding the alarm that these investments were not structured properly for a while now. We have been saying, through our defenses to the mortgage foreclosures, that the procedural requirements for properly structuring these vehicles were never adhered to. As such, most mortgage foreclosure complaints were and are defective and therefore can be defended. This is an opportunity to seize upon to help get the word out to those facing foreclosure that all hope is not lost. Our message is clear: don’t just walk away from your home, a competent foreclosure defense attorney can help.
Feel free to see some of our earlier posts on the subject including:
- Lenders Beware – Foreclosure Lawsuits are Going to Trial!
- Foreclosure Defenses are stopping Mortgage Foreclosures
- Can the Bank Garnish my Wages after Foreclosure if they are seeking a Deficiency Judgment against me?
- Walking Away From your Home Mortgage – Not without Consequences
- Florida Deficiency Judgments – The Rest of the Story
- Deficiency Judgments in Florida
Please also see our quotes in nationally recognized publications on related subject matters: