I am sure everyone has heard about a friend, neighbor or relative being charged excessive amounts of money for loan modification or someone who scammed them out of their money without doing anything to modify the loan. In many cases, the dishonest individuals are able to operate because there is very little regulation on who can provide loan modification services unlike Realtors who are governed by the Department of Real Estate or attorneys who are operate under the jurisdiction of the State Bar of California. However, you must also be wary of attorneys providing loan modification services.
On September 18th the State Bar of California made a press release announcing disciplinary action taken against its own lawyers for taking advantage of homeowners in financial crisis. In an unprecedented move by the State Bar, the names of the law firms being investigated were released to protect the public.
Russell Weiner is the Chief Trial Counsel for the State Bar, and in the press release he stated, “The number of attorneys using their law licenses to essentially take money from unwary but trusting consumers is astounding… There are literally thousands of victims who have lost money they could not afford to lose.”
The press release advises any homeowners working with an attorney that they feel may be taking advantage of them or their situation to contact the State Bar of California at 1-800-843-9053 or visit the State Bar website at www.calbar.ca.gov.
Mighty useful. Make no mistake, I appecriate it.
Posted by: Kethan | December 14, 2011 at 12:54 AM