By KIMBERLY MILLER, The Palm Beach Post
Foreclosure defense attorney Peter Ticktin was cleared of wrongdoing by the Florida Bar following a complaint about his firm placing second mortgages on clients’ homes to pay for services.
Ticktin, who is based in Deerfield Beach but has offices throughout Florida, uses the unique payment plan in cases where homeowners wouldn’t otherwise be able to afford an attorney.
The Bar opened an investigation following media reports about how struggling homeowners were paying court costs. In addition to paying a monthly stipend – a common practice in foreclosure defense – Ticktin said he came up with the second mortgage as a type of contingency fee.
If Ticktin’s firm gets a case dismissed or a mortgage reduced, the client must take out a new mortgage that awards the firm 40 percent of whatever the homeowner saved.
Read more: http://www.palmbeachpost.com/money/foreclosures/florida-bar-clears-foreclosure-lawyer-ticktin-over-plan-1502129.html