Bad news for ACORN: Bank of America will not deal with them for loan modifications. Bank of America and 13 other lenders have been asked by Congress for details about their dealings with ACORN.
Worse news for California homeowners: With SB 94 and AB 764 having been passed by the legislature and with the Governor stating he will sign these bills, California homeowners now have fewer options. As you know, SB 94 and AB 764 prohibit anyone from taking money on a loan modification. That means most consumers are going to get no help. But consumers can try a non profit like ACORN. Of course, now that the lenders won’t work with ACORN, it gives consumers even fewer options.
Hopefully the California legislature will come up with an actual fix to this problem and allow consumers the right to hire an attorney to help them.