Consumer Alert - Advance Fees and Loan Modification Services
" Advanced Fees for Loan Modification now Prohibited "
On October 11, 2009, Ex-Governor Arnold Schwarzenegger signed Senate Bill 94 ( Calderon ) which prohibits any person including real estate licensees and lawyers from demanding, charging, or collecting an advanced fee from a consumer for loan modification or mortgage loan forbearance services. IF YOU ARE APPROACHED BY ANY PERSON REQUIRING UP-FRONT FEES FOR THESE SERVICES DO NOT PAY THEM.
There are also non-profit agencies that can assist you without charging you a fee.
For more detailed information regarding loan modification services, please contact your mortgage loan specialist, Lani Vu at (408) 568-4323.
2033 Gateway Place | Suite 500 | San Jose | CA 95110
Office : ( 408) 568 - 4323 Fax: (408) 519- 6893
We lend in the following states: California, CA Dept. of Real Estate Broker License # 00896930, NMLS #392232
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