Foreclosures are Up
It’s about time these crooks were caught. Ca. law makes it illegal to take money upfront to do a loan modification but these attorneys get around it by calling it a retainer. The poor homeowners think its a fee. They don’t understand that a retainer is only the first payment. When the money is used up in hourly work, you get billed again. It’s a bottomless pit.
I tell my students to warn homeowners- especially the ones who say, “I’ve taken care of it”.
Please read the whole article and print it so you can show homeowners in trouble what to look out for. Remember you are their friend and are trying to help them solve a problem. Most of them are not ready to accept reality.
http://www.latimes.com/business/money/la-fi-foreclosure-relief-scam-cfpb-ftc-housing-20140723-story.html
