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HSBC Must File New Foreclosure Action, NJ Judge Says

Law360, New York (August 31, 2017, 1:37 PM EDT) -- A New Jersey court won’t rethink its refusal to extend a final judgment deadline for a mortgage foreclosure action by HSBC Bank USA, ruling Thursday that the bank, which repeatedly missed court deadlines throughout the five-year litigation, must refile a new action instead.

Hudson County Chancery Judge Barry P. Sarkisian didn’t buy the bank’s argument that the court’s denial of its reconsideration motion was based on the mistaken belief that it had benefited from several previous extensions, and that a new foreclosure complaint would be prejudicial since the bank had already prevailed on the merits of the case, according to his...

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