Why A Bank Halts Foreclosures after U.S. Probe, Tacoma Bankruptcy Attorney Dave Yando

PRLog (Press Release)– Mar 03, 2011– A major bank has suspended its foreclosures on property owners following a federal investigation for technically deficient reasons, according to Tacoma bankruptcy attorney Dave Yando. Mr. Yando emphasizes mortgage foreclosure defense with his 30 years of legal experience.

HSBC Holdings PLC, a London-based bank, put a moratorium on its foreclosures as the result of a U.S. government probe by two agencies: the Federal Reserve Board and the Office of the Comptroller of the Currency.

"This another example of a major bank using 'robo-signers' who signed affidavits verifying the accuracy of all loan documents in the foreclosure file, without in fact having done the verification," points out Tacoma bankruptcy attorney Dave Yando.

His informative Web site: http://www.yandolaw.com. For financially strapped businesses and consumers, Mr. Yando's Proven Debt Solutions provide the missing piece of the debt puzzle.

"Many homeowners have lost their homes in technically deficient foreclosure proceedings, which could have been prevented if they had obtained legal counsel and protected their property rights," states Tacoma bankruptcy attorney Dave Yando.

Mr. Yando provides a free initial consultation, and he explains how you can file bankruptcy and keep your home: http://www.yandolaw.com/archives/270.

Published reports indicate HSBC halted its foreclosures after the U.S. government reviewed the bank's procedures. HSBC's conceded the deficiencies this week in its annual report.

"HSBC was among the banks investigated last year," says Tacoma bankruptcy lawyer Dave Yando. "They were accused of not being fair to homeowners."

Not only were HSBC's loan documentation processes criticized, Mr. Yando says, the news media reports show the federal agencies condemned the bank's evaluation and monitoring of its legal representatives.

HSBC vows to recommence its foreclosures once it corrects its weaknesses. However, Tacoma bankruptcy attorney Dave Yando says Chapter 13 bankruptcy stops foreclosure:http://www.yandolaw.com/archives/795.

The bank also anticipates the investigations will also impact its earnings as a result of possible fines and other penalties.

Despite the slowdown in foreclosures following the U.S. investigation, RealtyTrac reports there were over 1 million foreclosures in 2010.

Mr. Yando says foreclosure of mortgages is a major headache in finance for homeowners throughout Seattle, King County, and Pierce County in Washington state.

Watch the five reasons financially strapped homeowners to call Tacoma bankruptcy attorney Dave Yando: http://www.youtube.com/watch?v=3zw2p6KYGcg

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