New York court dismisses foreclosure lawsuit against HSBC

April 1, 2015 2:08 AM

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New York court dismisses foreclosure lawsuit against HSBC

(Reuters) - A court in Buffalo, New York, dismissed a petition on Monday filed by New York state, alleging that HSBC Holdings Plc (HSBA.L) ignored a law designed to protect homeowners from being thrown into foreclosure without getting a chance to renegotiate their mortgages.

The lawsuit filed by Attorney General Eric Schneiderman in 2013 accused HSBC of letting foreclosure cases languish by ignoring a state law intended to give as many as 25,000 homeowners a chance to negotiate loan modifications. (reut.rs/1xVcVHL)

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