11/6/2009

Rene,

In early October, California enacted a new law that makes it illegal for companies to charge advance fees for loan modification services. Since then, some companies have been looking for creative ways to cash in on the mortgage problems of people without running afoul of the law. This is one of them.

First, does it make sense that a non-lawyer would be in the best position to do a "forensic audit" of a mortgage when the subject itself is largely a legal one? I think not. Second, does it make sense that a lawyer, who typically charge around #350.00 per hour, will only charge $750 to press a lender to give you a big reduction in your principal or loan payments? Again, definitely not.

An awful lot of people fall for this nonsense, and that's what it is. Don't be one of them.

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