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NY Court Rules on Motion to Intervene on Largest Toxic Assets Lawsuit

Homeowners Will Continue Battle Against Large Banks That Fraudulently Created Mortgage-Backed Securities

PRLog - Aug. 28, 2014 - MIAMI -- Court Rules on Motion to Intervene by Homeowners in National US Government Lawsuit Against Banks

New York - August 28, 2014

A New York federal District Court denied a Motion to Intervene by homeowners in a pending lawsuit by the United States against several national banks. The case is known as FHFA vs. HSBC (11-civ-9162,  S.D.N.Y.). The legal team for Plaintiffs, William Sanchez and John de Leon filed a Motion to Intervene in the country's largest lawsuit taking on the banking industry.  Both attorneys stated: "While we are disappointed with the Federal District Court's decision, we respect it and appreciate the expeditious manner in which the Court handled it.”  The lawyers with the Law Offices of William Sanchez P.A. and Chavez and De Leon, P.A., announced, "the activities and fraudulent actions of the banks in creating the mortgage backed securities financial crisis, led to the foreclosure of millions of homes in the United States.  Defendant banks must be accountable to the American people."  The lawsuit stemmed from recent discoveries by homeowners and the government of extensive banking fraud and predatory lending practices.  The Court's reference to our motion not being timely stemmed from Plaintiff's very recent retainer of current counsel.  William Sanchez stated, "The Court's actions did not preclude further action against the banks, including class action relief for the havoc wreaked by the banks and securities industry."  John de Leon declared: "we are prepared to continue the battle against those who have destroyed our clients lives and the appropriate forum is our nation's courts." For additional information please contact William Sanchez at william@wsanchezlaw.com or (305)232-8889.

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William Sanchez
william@wsanchezlaw.com

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Source:William J Sanchez, P.A.
Location:Miami - Florida - United States
Industry:Business, Legal, Mortgage
Tags:FHFA, homeowner, lawsuit, hsbc, toxic
Last Updated:Aug 28, 2014
Shortcut:prlog.org/12364534
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