Backers of a new California law that bars mortgage modification services from charging up-front fees say the rules will put scam artists out of business. But real estate attorneys say the new rules have created a host of unanswered questions and wonder whether the regulations will really just drive honest attorneys out of the practice. Said one: "I think you're going to see a lot of lawyers not doing this anymore. It's just not worth it."
October 19, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Backers of a new law that bars mortgage modification services from charging up-front fees (pdf) say the rules will put scam artists out of business.
But mortgage lawyers like Paul Molinaro wonder whether the new regulations will really just drive honest attorneys out of the practice.
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