WORK ONLY WITH EXPERIENCED ATTORNEYS
Work with respected, experienced and legitimate attorneys, not those claiming to be "attorney backed." These companies are operating illegally and unethically and are currently being targeted by several investigations by the California Attorney General's Office, the FTC and other organizations. In addition, it is considered "running and capping" for an attorney to affiliate themselves with these type of companies, or to be paid on a pro-rata basis for accepting clients from these companies. Our firm does not engage in any kick-backs or affiliate referral programs. We are contacted sometimes as much as 5 times a day by real estate agents, loan brokers, and others wanting to "affiliate" with us and have us do their loan modification or short sale work for them or send our work to their company. However, we strive to hold ourselves to the highest ethical standards possible and we refuse to be involved in any of these relationships. Our loyalty and service is where it should be, to our clients; which is why we also do not engage in referral relationships, or receive any referral fees or kick-backs and we keep everything and all your information in-house.
Please be aware that in California, the law states that once you are in foreclosure, only a licensed California Attorney may give you legal advice and assistance regarding your mortgage! C.C.P. Section 2945.
Working with Real Estate Agents/Brokers: Many people are using real estate agents/brokers these days to negotiate their short sales, and this is great as many of them are excellent at what they do, however we do recommend using an attorney in the process. Either to assist with the negotiations for an approval if needed or to review the contracts and approvals sent by the lender to make sure your legal interests are adequately protected. Real estate agents are not attorneys and are also subject to liability for guiding their clients in the wrong direction or not informing them of any legal liability they may be facing, so utilizing an attorney helps all involved, real estate agent and homeowner. For our full service short sale negotiations we include deficiency judgment, 1099 issuance and credit report negotiations for every one of our short sale or deed in lieu of foreclosures. We also offer these services on an ala carte basis. We work with realtors and their clients all the time.
BEWARE OF SCAMS:
Our law firm is helping many homeowners just like you with their short sales, deed in lieu of foreclosure, etc. Lately we have started seeing a pattern where many homeowners have been approached, via telephone, mail, or in person by "LOAN MODIFIERS" , asking for money to negotiate or renegotiate their loans. The irony is that these are the same mortgage brokers who first scammed innocent homeowners in the past with predatory loans! Now they are calling to supposedly assist them to save their homes from foreclosure.
Unfortunately many, including minorities and immigrant communities are being targeted in these scam. Here are few tips to avoid these scams:
1. Do not pay any advance fees for a loan modificatoin. Remember, in California this is illegal and criminal. Do not pay any advance fees to anyone (except your lender or approved HUD counselor) including a LAWYER for a loan modification.
2. Anybody who is guaranteeing you success is probably lying to you because those are negotiations, nobody can guarantee success. What we have seen happen, is these companies will promise you the stars, and tell you about their great refund policy. Even if they only require "half" of their outrageous fee up front, the company never lifts a finger to negotiate on your behalf and you have no recourse against them.
3. It is highly recommended that you speak to attorneys regarding such transactions. Attorneys are licensed in their respective state(s) and are allowed to negotiate for you. After all, it forms part of their job and ethical duties, to you the homeowner, not to a bank or lender. Make sure the attorney you are speaking with is licensed in the state in which your property is, we for example will only help clients whose properties are located within the state of California as that is where our attorneys are licensed.
4. Make sure that when you are disclosing private information such as name, addresses, social security numbers, etc., they are not being used for illegal purposes. Identity theft is very common right now.
5. Finally, make sure that anything you are signing is read and understood.
If you or anybody you know have been a victim of any of the above situations, please report the company to the proper organization.