Peter Ticktin Says Client Mortgages OK!

You know that foreclosure defense attorney who is taking out mortgages on his clients' homes?

Turns out he was twice sanctioned by the Bar and they're taking a look at this issue as we speak:

Peter Ticktin, whose license has been suspended by the Bar twice since 2009, told the Times that the second mortgage would take effect only if he succeeded in having the foreclosure dismissed and the homeowner’s loan reduced. He also said his firm never would foreclose on his own clients should they stop paying on their second mortgages.

Elizabeth Tarbert, the Bar’s ethics chief, declined to say whether the unusual payment arrangement detailed in the article violates bar rules governing conflicts of interest. Bar spokeswoman Francine Walker said only that the disciplinary body’s investigation centers on Ticktin’s quotes in the Times article.

Ticktin said he was not aware of the most recent Bar investigation but defended the practice, saying his research indicated regulations allow attorneys to secure fees using mortgages. The Bar already had examined his retainer agreement in Tampa’s judicial district, where he also has an office, and found nothing inappropriate, he said in a telephone interview.

 “We believe it is ethical, appropriate and the only way some people will get representation,” he said.

Belief is a funny thing.

For example, I believe in unicorns, Bigfoot, and that Charlie Sheen just had an adverse reaction to over-the-counter flu medication.

Indeed, wasn't it Oscar Wilde who said "I can believe anything provided it is incredible"?