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HSBC Bank USA v. Tsimmer
Citations: 2017 NY Slip Op 7096; 154 A.D.3d 470; 61 N.Y.S.3d 476Docket: 4629 850117/13
Court: Appellate Division of the Supreme Court of the State of New York; October 10, 2017; New York; State Appellate Court
Original Court Document: View Document
HSBC Bank USA initiated foreclosure proceedings against Leo Tsimmer, which were affirmed by the Appellate Division, First Department, on October 10, 2017. The court upheld the Supreme Court's November 29, 2016 order granting a final judgment of foreclosure and sale, following the plaintiff's motion. Tsimmer's appeal included claims that HSBC failed to negotiate a loan modification in good faith as required by CPLR 3408(f). The court confirmed that good faith negotiations are assessed based on the totality of circumstances, citing past case law (Citibank, N.A. v Barclay) without a strict definition of "good faith." The court determined that HSBC had indeed engaged in good faith negotiations, ultimately denying the loan modification due to Tsimmer's financial situation, including his income and the unpaid principal balance. Tsimmer's other arguments were also found to lack merit, leading to the affirmation of the foreclosure judgment.