Palm Springs, Orange County California Real Estate Lawyer and Realtor Discusses the Real Estate Crisis and Lawsuits in the Wake of the Credit Crunch
In Rancho Cucamonga, Ontario, Garden Grove, Palmdale, Corona, Escondido, Orange, Fullerton, Costa Mesa, Victorville, Carlsbad, Temecula, Murrieta, Mission Viejo, El Cajon, Vista, Westminster, Santa Monica, Santa Barbara, Hesperia, Newport Beach, Buena Park, Indio, Coachella, Chino Hills, San Diego, Orange County, Palm Springs, Palm Desert, Long Beach, Santa Ana, Anaheim, Riverside, Chula Vista, Irvine, San Bernardino, Huntington Beach, Fontana, Moreno Valley, Oceanside and all across Southern California and the nation, if you own real estate, you've seen the value of your home get a short haircut and your investment in the stock market has fallen through the basement.
While most real estate attorneys and lawyers are feeling the economic slowdown just like the rest of the country, some lawyers, real estate and bankruptcy lawyers among them, are seeing a host of clients seeking to file new lawsuits and filings in the wake of the credit crunch. And while the stock market may have a sharp rebound sooner or later, the real estate market is going to crawl back much more slowly.
Calls are pouring in to California real estate attorneys and CA property lawyers for help to fight foreclosures or to file foreclosure actions, for bankruptcies filings, landlord-tenant problems, homeowner association issues, contractors struggling to understand how their bank could cut off their credit in the middle of construction, individuals having their credit card limits slashed, and real estate buyers seeking help to get out of contracts and mortgages.
"I need help to save my home," is a common plea all attorneys are hearing. It is painful to tell such callers how limited their options are.According to a recent report, the latest problem is that delinquency rates are now rising dramatically on construction loans for single family homes.
Consequently, builders and contractors are filing lawsuits against their lenders for the damages they are suffering from this freeze in credit.More sub-prime related suits have now been filed in the 18 months that ended June 30th than in the savings and loan crisis of the 1990s. Class-action sub-prime related suits are soaring.
Class action lawsuits in California have been filed against some of the largest and now failed institutions alleging that their disclosures were misleading or that they practiced discriminatory lending practices.
It is expected that construction defect cases will be on the rise as well as builders try to cut corners to be able to make even a little profit on construction projects that have gone sour.There is, however, no quick relief for anyone filing such lawsuits. The courts are jammed and the State of California has little money to hire new judges. Criminal lawsuits take precedence and in some jurisdictions, only lawsuits running up against a requirement that they be resolved in five years are being sent to trial.
Every day, it is reported that a new wave of litigants or people are being affected by the economic crisis, whether it is people with prime as opposed to sub-prime loans, or people who are no longer able to obtain credit and who can no longer borrow money on their credit cards.
No matter what Congress does or doesn't do, the fallout from this crisis will last for many years and create a substantially different climate for business and real estate for the foreseeable future.
Related Tags: orange, estate, beach, real, lawyers, desert, county, ontario, palm, attorneys, coast, springs, temecula, rancho cucamonga, corona, anaheim, westminster, newport, carlsbad, costa mesa, fullerton, murrieta, el cajon, laguna, huntington, mission viejo
Visit our website at http://www.californiaattorneyslawyers.com . If you have a real estate, mortgage, landlord-tenant, construction law or homeowners association issue anywhere in Southern California, we have the knowledge and resources to represent you as your Palm Springs Real Estate Lawyer and Orange County Real Estate Attorney in and around cities such as San Diego, Orange County, Palm Springs, Corona del Mar, Laguna Beach, Palm Desert, Long Beach, Santa Ana, Anaheim, Riverside, Chula Vista, Irvine, San Bernardino, Huntington Beach, Fontana, Moreno Valley, Oceanside, Rancho Cucamonga, Ontario, Garden Grove, Del Mar, Palmdale, Corona, Escondido, Orange, Fullerton, Costa Mesa, Victorville, Carlsbad, Temecula, Murrieta, Mission Viejo, El Cajon, Vista, Westminster, Santa Monica, Santa Barbara, Hesperia, Newport Beach, Buena Park, Indio, Coachella, Rancho Mirage, Indian Wells, La Quinta, and Chino Hills.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Law of Services---transfer of Employees
Law of services-----Transfer of employees. When we are in service, it is possible that - How to Find Texas District Court Records
Because everything is bigger in Texas doing a search for Texas district court records can be quite - Finding Oklahoma Court Records Online
Trying to find Oklahoma court records is easier then it used to be. Before internet records sites c - Law of Services--pay and Pay Fixation
Law of services-----Pay and pay fixation Every person who has been employed by an e - Law of Services----contribution Towards Gpf/cpf
Law of services------Contribution towards GPF/CPF Every employee must contrib - California Lemon Laws - Making Life Better!
We all are aware with the law and their benefits. Laws are made to protect us and provide us the co - Law of Services--annual Increments
law of services-----Annual increments? All the orga - Law of Services--assets and Properties
Law of services-----Assets and properties. Every employee must be hones - Finding Public Records Online in Missouri
If you live in the "Show Me State" and you want to do a background check on someone then you need t - Law of Services--an Employee Must Attain Efficiency
Law of services------An employee must attain efficiency. If you are e
Most viewed articles in this category:
- Common Questions Asked About Last Will Forms
WHAT IS A LAST WILL AND TESTAMENT? A Last Will and Testament controls the distribution of your prope - Pro Hac Vice Admission In Indiana and the Role of Local Counsel
You're an out-of-state lawyer with a client who needs to foreclose on property within Indiana. You' - Advance Directives and Do not Resuscitate Orders Explained
An advance directive outlines what wishes your doctor must follow if you become unable to make your - On The Ballet: Recent News At The Poll- Earning More For South Carolina State Retirees
South Carolina has consistently had one of the nation's lowest rates of return on its investment por - Ohio Worker's Compensation - A Summary
OHIO WORKER'S COMPENSATION INFORMATION Ohio Worker's Compensation laws provide a system of compensa - In Broad Daylight - Who Killed Ken McElroy?
The killing of Ken Rex McElroy could well be the hottest cold case on record. On the morning of Jul - How Massachusetts General Law 93A Affects Online Businesses
Massachusetts General Law 93A, titled Regulation of Business Practices for Consumers Protection, is - Supreme Court Role Law Or Justice? - 1965 Editorial
Should the U.S. Supreme Court be a place of justice, or of law?Though this question at first glance - Criminal Records Search
In due diligence research, a criminal records search is a typical component of the procedure. In thi - Ohio Worker's Compensation - What is It?
Ohio Worker's Compensation - What Is It? Worker's Compensation is a system of no fault insurance cr