California Bar Association releases names of attorneys under investigation for loan modification fraud
As I have been saying previously, loan modification fraud is pervasive in these difficult times. Everyone is trying to take advantage of distressed homeowners because they are desperate and are desperately seeking hope. Hope sometimes in the form of “attorney based ” operations who basically buy the names of hungry lawyers willing to gamble their licenses for a few bucks. Well, some of those attorneys have finally been caught and are facing appropriate consequences.
This is fantastic news, the California Bar Association is investigation its members, and the California Department of Real Estate is investigating its own members as well. It’s about time these licensing organizations finally did something about reining in their corrupt members who were out there literally robbing these defenseless homeowners looking for hope.
Again, if we can simply warn the general public against giving up-front fees to people (whether they be lawyers, Realtors, loan brokers, etc….) who promise to do wonderful things on their behalf. No service providing professional should receive a fee before they deliver their service. Even if these “specialists” are telling you they will give you a money back guaranty, do not fall for it. Once they have your money, getting it back or having them refund it to you will be an impossible task: much tougher than modifying your loan.
