Around 2,800 Indiana borrowers should watch for mailed notices this month that will tell them how to claim reimbursements from mortgage lender and servicer HSBC.
Attorney General Greg Zoeller said Monday that borrowers whose mortgages were foreclosed upon between Jan. 1, 2008, and Dec. 31, 2012, with servicing abuses by HSBC are eligible. Individual payments will start at $780, and total Indiana reimbursement could top $2 million as the result of a $470 million federal-state settlement with the lender.
Zoeller says affected borrowers should have received an initial postcard notice from HSBC settlement administrators informing them of their eligibility. Instruction packets will be mailed out Wednesday. All claim forms are due by Nov. 1, and payments are expected to be mailed out next February and March.