May 21, 2009

Loan Mods: Who Has Government Approval?

Hello Neighbors,

As we sign our affiliation agreement to offer Loan Modification services, it's important for the general public to know who has been approved to perform these services.

This site: http://www.dre.ca.gov/mlb_adv_fees_list.html

Contains a list individual and corporate real estate brokers have submitted Advance Fee Agreements for Loan Modification and/or similar services to the Department of Real Estate for review and have received "no objection" letters regarding their use.

Our parent company for these services is on this list. You won't see "Neighborly Financial" or "Neighborly Realty" on the list, because we are affiliates of the larger company.


This site: http://www.dre.ca.gov/cons_drs.asp

Contains just the opposite. THESE ARE THE COMPANIES AND PEOPLE WHO HAVE BEEN CAUGHT SO FAR.

The following persons and entities have been served with a Desist and Refrain Order and/or Accusation by the Department of Real Estate resulting from a loan modification and/or foreclosure rescue transaction. In some instances, the person or entity has been ordered to stop providing loan modification and/or foreclosure rescue services because the person or entity is not licensed by the Department of Real Estate. In other instances, the person or entity has been ordered to stop collecting advance fees. Before considering engaging the services of any of the persons or entities listed below, it would be prudent to inquire about the disposition of the action that has been filed against the respondent. Further information regarding any administrative action may be obtained through the Sacramento Office at (916) 227-0906.

Be careful.

- Jim

www.NeighborlyRealty.com

www.NeighborlyFinancial.com

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