In a recent newsletter courtesy of the California Association of Realtors, the California state bar has launched numerous investigations into the practices of a number of attorneys with regards to loan modification practices. The attorneys have taken fees for loan modification services, but have failed to perform any services to date. Worse, they have failed to communicate with their clients who face the possible loss of their homes.
Not all attorneys that offer loan modification services are unscrupulous. However, it is good to see that the C.A.R and the California state bar is taking this matter seriously. It also serves as a reminder to me (as it should to all Realtors) that we should be careful when dealing with and advising our clients regarding loan modification. Additionally, scam artists have been known to align themselves with attorneys to lend credence to their fraudulent schemes. The list of attorneys under investigation can be found HERE.
I recently published a post on the five steps to help avoid loan modification schemes. That post can be found HERE. The number one tip is NEVER pay upfront fees. Go figure.
For more information on this and other exciting topics, visit my site at http://www.JosephCapote.com.
Filed under: Seller's Blog, loan modifcation, loan modification scams, Short sales
Joe Capote 
There’s a lot of information there about loan modification programs but this article hits the nail on the head. I’ll share this information with anyone that needs it.