Venting about "Loan Modification Consultants"

[Quinn Kiet]

It burns me up to see Loan Mod "experts" charge $5000 to $8000 to do a loan mod and then somewhere in their contract a clause says "Remember, we are not responsible for anything you sign, please seek the assistance of an attorney prior to signing anything with the bank, and you understand that we are not attorneys, we're just here to analyze your problems."

Geee, would it have been cheaper just to go to an experienced attorney in the first place who most likely will charge the same if not less?

I don't know about other states, but CA laws are very CLEAR on prohibiting advanced fees for loan mods.

Ok, soapbox off. Just had a client come through who paid a "consultant" most of her savings to save her home and when the bank offered a "loan mod" the consultant disappeared leaving her to finish everything herself.