Tuesday, September 29, 2009

IMPORTANT Loan Mod Attorneys under investigation

I like to keep this blog positive, but if anyone has hired an attorney for their loan modification, they need to be aware of this...
This just in from the California Board of Realtors®
LOAN MODIFICATION ATTORNEYS UNDER INVESTIGATION
The State Bar of California has recently launched numerous investigations against attorneys for misconduct related to loan modifications. In a rare move, the State Bar has released the names of 16 attorneys under investigation, by opting to waive investigation confidentiality in favor of public protection. These attorneys have allegedly taken fees for promised services, but failed to perform those services or even communicate with their clients who face the possible loss of their homes. Their non-attorney staff may also be under investigation for unlawfully practicing law.
Not all attorneys engaged in loan modifications are unscrupulous. However, this announcement from the State Bar serves as a good reminder for REALTORS® and their clients to be careful when dealing with attorneys and others for loan modifications. Scam artists may intentionally associate or affiliate themselves with attorneys in an attempt to lend credence to their fraudulent schemes. The list of attorneys currently under investigation is available at http://calbar.ca.gov/state/calbar/calbar_generic.jsp?cid=10144&n=96395.

Rmember, the best thing you can do is contact your lender directly, do your research online and see what government programs you are eligible for (refer to my previous blog entry on loan modifications,) and definately get refferences and credentials from anyone you might hire. The Board of Realtor's website is a good place to start. http://www.car.org/

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