The State of California legislature wrote Senate Bill 94 and it became law October 12, 2009.
The purpose of the measure was to stop the rampant fraud in the loan modification services business. SB94 requires loan modification companies to refrain from collecting fees until a home loan modification is complete. This bill stops anyone including attorneys from collecting partial payments or stepped fees until the mortgage has been modified, either with a trial or complete modification. Consultation fees are not allowed, nor any other ambiguous fees. Should a servicing firm or attorney choose to do a modification for a client they must not accept payment for any service until the modification is complete. For your protection, before you engage the services of a loan modification firm be certain that their requirements meet SB94, no upfront fees or partial payments until the modification is complete.
Able Financial Solutions has always practiced Legal, SB 94 loan modification.
Zero upfront fees, with a 100% guarantee, we analyze your situation in a matter of minutes to determine if your circumstances qualify for a loan modification. Once we have determined that your present situation would meet requirements for a modification, we will begin to assemble your file. We pride ourselves on providing each client with a unique defense and negotiation strategy. We completely prepare, organize, review and submit your file to the proper individual assigned by your lender. Interacting with your lender for the following 4 to 6 weeks with financial updates until we have renegotiated the best possible mortgage, for you. We realize the amount of stress you’ll be under and we will strive to keep you in the loop through the entire process. At no time will we accept any funds for payment unless and until a loan modification is in place.
With Able Financial Solutions representation,
you will have a professionally completed file, presented properly to the correct individual in a timely manner, with no upfront out of pocket expense. Spend your time wisely. Get your life back on track. Let Able Financial Solutions do the dirty work that needs to be done.