Law firms representing lenders are also big beneficiaries of the foreclosure surge.

Gurdon Buck, a partner with Dwight Merriam in the Hartford law firm of Robinson & Cole, represents lenders who have taken over coastal projects.

"The lease is no protection," said Philip T. Aaron, a lawyer in Syosset, L.I., who specializes in representing lenders in foreclosure proceedings.

"Borrowing, unfortunately, will become the price of postsecondary education," says Brett Lief, president of the National Council of Higher Education Loan Programs, which represents private lenders.

Its practice was primarily in real estate law, particularly in representing lenders and servicers in residential foreclosure actions in its later years.

"On the surface, it sounds right," said Jeffrey Zeltzer, executive director of the National Home Equity Mortgage Association, which represents subprime lenders.

But the CML, which represents banks, building societies and other lenders, predicted the improving recent trend would face a "significant challenge" in coming quarters due to falling real incomes and rising living costs.

Its current membership base (over 100 members) represents Small and Medium Enterprise producer organizations, commercial and socially-oriented lenders, development focused NGOs, and other sustainable trade stakeholders.

"It's not only killer mortgage payments some of these people face, it's killer taxes," said David M. Fleisher, a lawyer in White Plains who has represented lenders.

Edwards Wildman has a debt finance and capital markets practice that represents global financial institutions, banks, finance companies, insurance companies, hedge funds and other institutional lenders.