HSBC won one foreclosure fight and lost another on January 28, giving mortgage servicers a roadmap and a warning about New York’s tougher rules.
New York’s appeals court handed down two decisions that Wednesday that every foreclosure shop needs to understand. They show exactly where the new Foreclosure Abuse Prevention Act helps you and where it absolutely does not.
The first case started back in 2005 when Nina St. Hillaire took out a mortgage on her Brooklyn property. She modified the loan twice in 2008, then stopped paying in early 2009. HSBC filed to foreclose in July 2013, asking for the full amount due…