Gardner v. HSBC Bank USA
According to Marcelline M. Gardner’s complaint, in 2005, during the go-go era of the Southern California housing market, she used 100 percent, adjustable-rate, interest-only financing to buy a house in Hesperia. In hindsight, this was not a good idea. In 2009, the house went into foreclosure (although it appears that, for the moment, Gardner is still living there).
Gardner then filed this action against the lender, the lender’s successor in interest, and other entities involved in the loan. The trial court sustained demurrers to the original complaint and the first amended complaint; finally, it sustained demurrers to the second amended complaint without leave to amend.
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