“Foreclosure Lawyers Put Second Mortgages on Clients’ Homes”

That’s the way to help ’em out!

While such an approach is sometimes used in commercial litigation, this is a first for consumer cases, said Lester Brickman, a professor at Cardozo Law School in New York.

“For a lawyer to supplement or replace the banks as a long-term mortgage creditor of homeowners leaves me a little queasy,” said Mr. Brickman, an expert on contingency fees. “It’s an invitation for the public to say, ‘There go the lawyers again.’ ”

OK, we’ll say it: There go the lawyers again. [New York Times via Ribstein/TotM and Knake/LEF]


  • “We would never enforce the mortgage and foreclose,” he said. “We’re not in that end of the game. We’re not money lenders. We’re charging a small amount of interest” — four percent — “just to make it legal.”

    If you believe that, I’ve got a bridge to sell you.

  • Forget the bridge… who has money for that? I’ve got a house to sell you.

  • er – depending on the state this may or not be legally enforecable as there are strict limits on who may “originate” a mortgage in many states. could be interesting class action potential….

  • Well, there is a problem. If you’re a lawyer representing a deadbeat, how do you get paid?