There is no pot calling the kettle black! The State of California took control of the kitchen and filed law suits against California Based Law Offices and Attorneys who preyed on borrowers to obtain mortgage relief. The firms are accused of inducing struggling homeowners nationwide to pay thousands of dollars each to file mass lawsuits against their mortgage lenders.
Reuters reports that the CA attorney general filed suit against 3 law firms, 4 lawyers and 14 other companies and individuals who took advantage of unsuspecting borrowers looking for assistance with their mortgage woes.
The California State Bar has even stepped in and seized the law practices and attorney accounts of the lawyers involved in the suit pending investigation. Mortgage Fraud used to be a very narrow term. Nowadays, mortgage fraud refers to anyone or any entity that tries to take advantage of our broken industry. Tidal waves of homeowners have become victims of this term.
Surely the plot will thicken and more disappointing news will come to light. Bristol Restoration prides itself on completing our work with the merits of quality, integrity, and building a reputable name with our clients. While we work within the troubled industry, we stand firm in our vow of honest, dependable service.
-Jerry Bronstrup, President/ R.M.OWhat do you think? What do you think is the biggest issue facing California Real Estate?
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