Investor's Business Daily (09/12/08) P. A8; Alva, Marilyn
While the meltdown in the U.S. housing and mortgage markets has battered the national economy, at least one profession--the legal field--is benefiting from the fallout. Law firms are being flooded with cases involving everything from bankruptcies to landlord-tenant disputes, and many have started practice groups that focus exclusively on legal issues tied to the subprime lending business. Meanwhile, builders are filing suit against lenders for freezing construction loans, effectively suspending projects; and lenders are facing additional litigation tied to predatory and discriminatory practices, unwarranted fees and charges and deceptive disclosures. The demand for legal representation in such cases is particularly high in Florida and other states where lax underwriting and steep declines in residential values came back to haunt lenders and borrowers.
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