The PR hype for the various large scale loan mod events that arrive in the various cities like a circus sideshow couldn’t be better for the banks’ image. That’s mostly why they do it. Those aren’t our words but some of the mutterings of some higher ups at a few of the non-profits agencies that attended the recent Bay Area events. To many these events represent just fancy smoke and mirrors.
And speaking of magicians, how about all those attorneys and loan mod companies that took peoples money (normally in the $1000 – $4000 range) and made it disappear. Some unlucky homeowners (if they still have their home) may be out of luck as well as their cash fee but fortunately we met attorney Karlo Ng with the non-profit Lawyers Committee.org who is going after these loan mod scammers with full force.
Although Karlo can’t promise to get the money returned, she can help coordinate with other agencies to attempt to get the money returned and put the culprit in hot water. (And we don’t mean for a spa treatment).
Karlo mentioned a few things that will help a complaint:
1- For lawyers with 15 or more complaints, she can work with the California Bar Association to get a case expedited so gather others who may have been scammed by the same person.
2- Karlo can help cases with multiple people (3 or more people).
3- She may be able to help draft a Consumer Demand Letter that basically represents a letter from attorney requesting refund for non-sufficient service
4- The Client trust fund represents one possible way for loan mod victims to get their money back. The DRE also has a victims fund but each appears to be running low.
5- Homeowners who want refunds from alleged scammers may want to check local legal services organizations, where local attorneys can assess the various options available to them. Homeowners can get a list of contact information for legal services organizations by going to the state web pages at preventloanscams.org and clicking “Help for Distressed Homeowners.”
We know another East Bay attorney who is going after loan mod attorneys and companies who targeted seniors in Alameda County. Anyone can feel free to contact us if they know anyone loan mod victims 55 and older who have been scammed by a Loan Mod attorney in the East Bay.
We don’t know about all of you but we feel like this whole loan mod scam situation might play out like a sting operation on Dragnet.