It is not often that I ask my readers to do something. But, today I am. There are two bills that are going to affect you and no one is even talking about them.
SB 94 and AB 764 are two bills that are going to force attorneys out of helping people with loan modifications. The bills make it a crime to charge a client up front for a modification. Is that the end of the world? Probably not. Is that bad for consumers? Yes.
Why? Because our legislators are convinced that banks are helping people get modifications all on their own and that consumers do not need legal help. Yes, that is their stated reason.
Of course, reality is that banks got us into this mess and the banks do not voluntarily help people. If the banks were voluntarily helping people, then our state legislature and the Federal Government would not have had to pass laws to require modifications be considered.
What can you do? Please email Sen. Calderon and Assemblymember Nava and tell them that this bill is going to hurt consumers. You can also email your own assemblymember and senator. You can find contact information here for the Senate and here for the Assembly.