Attorney Walker M. Duke recently obtained a temporary injunction, stopping a foreclosure on a McKinney, Texas family’s home. The injunction will keep the family in their home throughout the life of a lawsuit against their lender, which challenges the bank’s right to foreclose and seeks to keep the family in their house long-term.
“This is a complicated case that deals with a number of Wall Street transactions. The judge took the time to hear the arguments from both sides, thoroughly reviewed the briefing, and after thoughtful deliberation, made what I believe was the right decision. I applaud this judge’s efforts to truly grasp the issues before him,” said Walker Duke. The case involves a home loan that was allegedly “securitized,” a complex process by which a residential home loan is converted into a tradeable security that can be bought and sold on Wall Street–all without the homeowner’s knowledge or consent.
Walker Duke, a Dallas-based foreclosure defense lawyer, noted that the bank made representations to the U.S. Securities & Exchange Commission that were inconsistent with the records they filed with the Collin County Clerk. “In my opinion, the bank is either lying to the SEC or they’re lying to the Collin County Clerk. I’m going to hold them accountable either way,” Duke stated.
The injunction followed the granting of a temporary restraining order, or TRO, that initially halted the foreclosure.