Real Estate/Development
Jan. 11, 2011
Some Say Anti-Scam Law Hurt Consumers
A California law aimed at deterring loan modification scams has had the opposite effect, plaintiffs' lawyers say.
Daily Journal Staff Writer
A California law aimed at deterring loan modification scams has had the opposite effect, plaintiffs' lawyers say, by scaring honest attorneys out of the foreclosure relief business while fraudsters continue to offer services.
Senate Bill 94, effective since October 2009, bans lawyers, real estate brokers and other professionals from charging upfront fees for helping homeowners modify their mortgages...
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