Loan modification laws | CA
What are the laws governing loan modification in California?
California loan modification laws | the essentials
You will probably be aware of loan modification 'sharks' who prey upon people in financial distress. Loan modification law in California (as it applies to loan modification lawyers and consultants) was recently tightened (SB94) to ban loan modification consultants collecting advanced fees.
If you retain a lawyer or consultant to provide loan modification services, special loan modification laws now apply. Specific disclosures must be made letting you know that you can do the loan modification yourself and avoid fees.
Loan modification laws CA | lenders' obligations
Even with the HAMP program, only a small percentage (around 9% to November 09) of loan modification applications have actually been processed. Despite the HAMP incentives to encourage loan modifications, lenders remain inconsistent, understaffed and (it seems) indifferent to the financial distress of people facing foreclosure.
California loan modification laws - articles
In these resources, we provide information on loan modification laws in California
Entries by Title
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- California Short Sale Process Assisting California Loan Modification Process (With Video)
- Permanent Loan Modifications California: Too costly for homeowners
- Lenders' Incentives To Grant Loan Modification California
- Loan Modifications California Advertisements Are Misleading
- Loan Modification California -- Home Affordable Modification Program (HAMP)
- Loan Modification-California
- California Loan Modification Law