On Oct 11, 2009, a new California Law went into effect PROHIBITTING any person, including Real Estate Licensees and Attorneys, from demanding or collecting an Advanc Fee from consumers for loan modification or mortgage loan forbearance services…..

Six months ago, we have thought of the ideas of offer this service through our company. We finally decided not to proceed due to many reasons. The most obvious reason of all was the financial impact to our clients/consumers for things that we really had little control over. We saw this as an opportunity for some to make a quick buck!!!

I believe that most homeowners are capable of working directly with their lenders to modify their loan terms. Here are two web sites that are very useful for anyone in need of loan modification….

http://makinghomeaffordable.gov

http://www.hopenow.com

There are other potentially resources to assist homeowners from foreclosure risks. You really need to explore all the available options.

I am still reading up on this new bill to understand it better. I’ll be happy to assist or direct you to other resources. Feel free to leave me your comments and questions….