HSBC to Cough Up $249 Million in Foreclosure Settlement

Reuters reports that the U.S. arm of HSBC Holdings Plc agreed to pay $249 million to end a case-by-case review of past home foreclosures in the United States, bringing the total payout by banks to resolve related issues to $9.3 billion.

HSBC agreed to pay $96 million to eligible borrowers who lost their homes to foreclosure in 2009 and 2010, and provide $153 million in other assistance, including loan modifications and forgiveness….

Read more at http://uk.reuters.com/article/2013/01/18/uk-hsbc-foreclosures-idUKBRE90H17X20130118