Real estate blog entries tagged with mortgage loans by MAC BAKER, GRI (Coast Capital Properties)

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Home : Blogs : MAC BAKER, GRI : MAC BAKER, GRI's Blog : Tag "mortgage loans"

mortgage loans: Senate Bill 94 - Prohibits Advance Fees for Loan Modifications - 10/13/09 02:25 PM

ADVANCE FEES FOR LOAN MODIFICATIONS NOW PROHIBITED On October 11, 2009, Governor Schwarzenegger signed Senate Bill 94 (Calderon), and the legislation took effect immediately upon his signature. Thus, California law now prohibits any person, including real estate licensees and attorneys, from demanding or collecting an advance fee from a consumer for loan modification or mortgage loan forbearance services affecting 1-4 unit residential dwellings. IF YOU ARE A REAL ESTATE BROKER, OR THE DESIGNATED OFFICER OF A LICENSED CORPORATION, WHO HAS BEEN ISSUED A "NO OBJECTION" LETTER BY THE DEPARTMENT OF REAL ESTATE FOR LOAN MODIFICATION OR OTHER MORTGAGE LOAN … (2 comments)

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MAC BAKER, GRI

Carlsbad, CA

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