SB 94 Issues

SB 94 AND FORECLOSURE CONSULTANT LAWSUITS / ARBITRATION / INVESTIGATIONS

In California, it is no longer legal for any loan modification broker, or attorney to accept advance fees for loan modification services.  This is because of SB94.  The law is fairly clear that the state legislature does not want companies preying on desperate homeowners and accepting advance fees prior to performing the agree upon services.  Why?  There were way too many scammers taking 2-10 thousand dollars by promising the world and delivering nothing.  Despite the plain language of the law, some companies tried to get clever and accept advance fees under separate contracts for example.  Now, civil litigators are out on the hunt for these types of companies and are seeking to hold them liable and taking them to civil court or binding arbitration.  In their zest to prosecute these types of actions, attorneys who don’t understand the loan modification process often make false assumptions and seek to strong-arm a settlement when such is simply not warranted.  If you are being charged with a violation of SB94 (whether via a civil lawsuit, arbitration, or DRE investigation/audit) contact us to discuss your case.  Attorney Steve Vondran has personally set up over 50 California Real Estate Brokers to legally accept advance fees prior to SB94.  Get someone who knows the business when some civil litigator is trying to give you the business.  Toll Free (877) 276-5084