Taking on a Second Mortgage to Pay the Foreclosure Lawyer
(New York Times) — For some Florida residents, the price of getting out of foreclosure will include taking on a second mortgage — payable this time to their lawyers. The new mortgage, which takes effect only if the foreclosure is dismissed and the homeowner’s debt to the bank is reduced, is controversial among defense lawyers, some of whom call it “creepy” and “crass.” Yet even they acknowledge it offers a solution to a vexing question: How do they get paid? After recent revelations that banks were sloppy in processing many foreclosures and in some cases lack standing to seize a house, potential clients seeking to challenge their lenders are flocking to lawyers. But while these distressed homeowners might have a case, they generally lack the resources to pay legal fees. Being in foreclosure usually means being broke.
- Tyler Perry And Byron Allen Are In Talks To Acquire BET From Paramount
- Georgia Judge Prohibits Tiffany Haddish From Drinking And Ingesting Illegal Substances
- Watch Law Roach Gag Over Zendaya & Anna Sawai’s Almost-Identical Met Gala Looks — ‘I’m Glad We Came Early’
- Nia Long Isn’t Happy With How The Boston Celtics Handled Ime Udoka’s Cheating Scandal
- Lenny Kravitz Maintains Rock God Status With Bubble Bath Thirst Trap And A Phone Call From Denzel Washington During Performance
