Relevant:
- BREAKING NEWS! CA STATE BAR PUBLISHES GUIDANCE FOR LAW FIRMS ON SB 94
- Judge Dismisses 110 of the Felony Counts Against Southern California Attorney Accused of Loan Modification Scam
- Bostwick Putting SB 94 and California State Bar on Trial
- Gov. Schwarzenegger Move Will Deprive Homeowners of Legal Representation When Negotiating a Loan Modifications
- Calif. Bar Crackdown on Loan Modification Misconduct Claims 5 More Attorneys
2013-01-25 — ml-implode.com
I've written more about California's law known as SB 94 than anyone else by far. In case you need a quick refresher, SB 94 was intended to prevent both attorneys and Department of Real Estate ("DRE") licensees from charging advance fees in connection with providing loan modification services. It was signed by the governor in the fall of 2009.
The current controversy surrounding SB 94, however, began in the fall of 2011 when an attorney working for the State Bar, Suzan Anderson, told an audience at the State Bar's annual meeting that the Bar would now be interpreting SB 94 to prohibit attorneys from being paid until the end of the loan modification process.
The problem with this "interpretation" by the Bar was two-fold.
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