“Foreclosure King” David Stern may face class action suit

David Stern of the eponymous Florida law firm was once known as the “foreclosure king.” But now his company’s stock trades for pennies, his firm faces multiple lawsuits, the company has downsized and an ongoing investigation by the Florida attorney general’s office is looking into the firm’s foreclosure documentation practices. Recently, a Florida appellate court ruled that one of the lawsuits against his firm — claiming that Stern told homeowners hoping to avoid foreclosure to pay inflated and improper fees — can continue as a class action. What happens to Stern may have an impact on pending Florida foreclosures and what the firm’s underlying conduct means for the future of the state’s real estate market, experts say. [Daily Finance]