While the downward trend in the sub prime mortgage market affects all other related markets in a negative manner, it holds out new hope for a few.  Finding that the rise in foreclosure rates and mortgage frauds are putting the pressure on a wide range of industries, parts of the law fraternity hold that such stressed companies would soon turn to law groups specializing in reorganizing business and restructuring loans.

In fact, Shutts & Bowen LLP is in the process of building a practice group focusing on complex loan workout to help clients affected by the slump in real estate.  The group will be formed with lawyers expert in real estate, receiverships, creditors’ rights, bankruptcy, taxation, and litigation.

Florida’s stressed economy, especially in real estate, creates anticipation that more and more people would be seeking legal advice to restructure their loans.  I have no doubt that firms in other parts of the country would appreciate the idea of Shutts & Bowen.