And now the fighting begins

With the sub-prime mortgage debacle still raging on, some buyers and borrowers are turning to the courts in an attempt to re-coup their losses. Thomas Brom, a senior editor at California Lawyer magazine (Jul. 2008), notes that 170 sub-prime mortgage related law suits were filed in the Federal courts just in the first quarter of 2008. Some California law firms are forming teams to handle the increased business in such areas as nondisclosure, misrepresentation, ERISA violations, and others. Are the claims justified and, if so, will justice be done? I remain skeptical, but I heartily concur with Mr. Brom's final comment that it will " . . . add up to a lot of work for California law firms."