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New York court dismisses foreclosure lawsuit against HSBC

Justice League

(Reuters) – A court in Buffalo, New York, dismissed a petition on Monday filed by New York state, alleging that HSBC Holdings Plc 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. (http://reut.rs/1xVcVHL)

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