CONSUMER ALERT

CONSUMER ALERT

DID YOU KNOW?

California has just passed a new law that may result in making it more difficult for you to hire a law firm or other company to assist you with your loan modification.

SB 94 was signed into law on October 11th by the Governor, the bills intentions are to protect homeowners from loan modification scams, but the way it was written may have a devastating effect on a homeowner’s ability to find a law firm or company to hire in order to assist them with the tedious and difficult loan modification process.

Please be advised that if you or anyone you know is interested in having an attorney represent them in their fight to get a loan modification, under the new law, now in effect, we, as a law firm, are still able to accept new loan modification clients.

We were happy to see SB 94 passed.  In addition to other protections SB 94 makes it illegal for any Attorney, Law Firm or Company including mortgage companies (brokers and realtors) to accept an up-front advance fee for a Loan Modification before providing the contracted for service.  We believe this will result in many of the scam operations that were still in existence to cease operating as their main function was to take homeowners funds, and then do little to nothing for the homeowner. Of course, criminals by definition typically don't follow the laws, so there still may be those who try to collect advance fees, so be careful.

If you are looking for help - now is the time to schedule a FREE initial consultation with one of our experienced attorneys to discuss your particular situation and options.