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Real Estate & Property Law

: The Home Equity Theft Reporter

City Of Los Angeles Votes To Ban All Upfront Fees Charged By Loan Modification Firms

By r morris

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In Los Angeles, California, the Los Angeles Times reports: The Los Angeles City Council voted Tuesday to make it illegal for so-called mortgage consultants to charge an upfront fee for services when helping distressed homeowners try to modify their payments. Mayor Antonio Villaraigosa touted the law as the first of its kind in the nation and said it was a tool to "help residents keep a roof over

Full post as published by The Home Equity Theft Reporter on April 30, 2009 (boomark / email).

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