Sentences with phrase «fees for loan modifications»

Those enforcement efforts, backed by California's first - in - the - nation law making it illegal to collect upfront fees for loan modifications, are credited with largely — although not entirely — quelling the problem.

Among them were two Southern California firms, Siringoringo Law Firm and Clausen & Cobb Management Company, whose principals were accused of partnering on schemes to charge illegal fees for loan modifications.

Without having the right credentials, taking a fee for loan modification assistance could be a criminal offense.

Not exact matches

There are several advantages of hiring a professional, HOWEVER you must also be very careful if you choose to use a loan modification company that takes a fee up front to negotiate your loan modification for you.

Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan.

Loan modification schemes — similar to foreclosure «rescue,» but they may get fees from you upfront for modification help, then disappear with it after taking no action on your behalf.

It works like this: For a (very low) monthly fee, you get unlimited access to our team of attorneys, who will pursue every avenue on your behalf, starting with negotiating a loan modification with your lender.

Numerous states have recently enacted laws prohibiting advance fees for foreclosure assistance or mortgage loan modification services.

H.R. 1077 would increase choices and lower costs for borrowers by making the following modifications to the points and fees calculation used to determine whether a loan meets the Qualified Mortgage definition:

According to the CFPB's complaint, thousands of Californians were duped into paying initial fees between $ 1,200 and $ 3,500, in addition to $ 495 monthly fees, for supposed loan modifications, in violation of state and federal laws.

The Bureau is also adopting comment 38 (f)(1)-3 with modifications to address comments about how to calculate the amount of compensation to a third - party loan originator paid by a creditor by referencing the calculation of creditor - paid compensation to the third - party loan originator for the purposes of determining the amount of points and fees associated with the transaction in accordance with § 1026.32 (b)(1)(ii).