Posted by jojo_MN on 9/25/10 12:18am
Msg #353908

Loan modification applications revisited. Let's be proactive

We need to all band together and get the word out to all notaries in our areas regardless if they are on this site or in our networks that IT IS ILLEGAL to charge upfront fees for loan modifications, whether it is a "loan adjuster", Attorney, or loan modification company. Check all of the laws in your states with your State Bar Assn etc.

If they call us and we refuse o do the

In the State of California, it is 100% illegal to do these if charging fees upfront, so the attorneys are inflitrating other unknowing victims in other states looking to have their loans modified so they can stay in their house. They go into it with the promise that they will get them their loan modification; however, they have to shell out money upfront to get the help The victims basically kiss their money goodbuy.

in the past two weeks I'vd dealt with homeowners who are in the process of having their houses taken in forclosure after giving them the money. Total fraudl If you are asked, it sounds like a grea deal. A few minutes there, a few pictures of thouse house "where do you work and address?
Pays well with little involfment.---UNTIL they ask for the four post-dated checks

Keep it safe. If it is a loan modification application, Keep it safe. JUST SAY NO!
\

Reply by jojo_MN on 9/25/10 12:40am
Msg #353909

These area a couple sites. PLEASE read them. There area too many people getting ripped off by these scammers and there are notaries out their helping tp perpetuate the crime unknowinlgly..

http://www.dre.ca.gov/pdf_docs/SB94WebAnnouncement(brokers).pdf

http://www.wisbar.org/AM/Template.cfm?Section=Search&TEMPLATE=/CM/HTMLDisplay.cfm&CONTENTID=78477

Reply by Cari on 9/26/10 12:35pm
Msg #354117

Loan Mods....free services from lenders but if attorney

involved, they will charge them 'attorneys fees'.....not illegal if the borrowers know up front what is involved. Attorneys have to give them a retainer agreement, and in that agreement it must spell out what services to expect from the attorney.

I've seen some 'interesting' agreements, and you know what, if the borrowers want an attorney to 'represent' them before their mortgage company, so be it.

But it is equally important that the attorney preferably in their retainer agreement, include a few lines indicating that they may be able to get free loan modifications from their lender, but that the attorney is not seeking fees for that, but for 'legal services' involved such as attorney representation before the mortgage company or possible foreclosure action.

Just my .02 cents.