Beshear: Kentuckians involved in HSBC settlement may file claims beginning Aug. 24

FRANKFORT, Ky. (WTVQ)Attorney General Andy Beshear announced on Monday that the nearly 1,400 Kentucky borrowers eligible for relief through a settlement agreement with HSBC mortgage lender may file a claim starting August 24.

Beshear secured $59 million for the eligible borrowers from a joint state-federal settlement with HSBC to address mortgage origination, servicing and foreclosure abuses.

The third-party administrator, Rust Consulting, will accept claims online or through the mail. Borrowers who choose to mail their claims may do so by using the business reply envelope they received in their packets from the third-party administrator.

The deadline to submit claims is Nov. 15, and payments will be mailed to borrowers in early 2017.

The settlement will provide direct payments to eligible Kentucky borrowers whose loans were serviced by HSBC and who lost their homes to foreclosure from Jan. 1, 2008, through Dec. 31, 2012, and encountered servicing abuse.

Kentucky borrowers will be eligible for a payment from the national $59 million fund for payments to borrowers. The amount of a settlement payment will depend on how many borrowers file claims, Beshear said.

Borrowers may currently call 888-538-5792 to leave a message for the third-party administrator. Live customer service representative support will be available to borrowers Aug. 24

Categories: News, State News

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