Does anyone know where to find out what are the laws governing foreclosure consultancy in CA?
Well, no. However, my disclosure specifically states that I am not acting as a foreclosure consultant in this transaction. Just seemed like a good idea.
California has ’ California Civil Code 1695 ’ which deals with pre-foreclosures.
Are you a foreclosure consultant? What title do you give yourself?
you also want to check Civil Code 2945…that’s a big one as well.
Here’s the links for some reading.
Home Equity Purchasing (Civil Code 1695)
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=civ&group=01001-02000&file=1695-1695.17
Foreclosure Consultant (Civil Code 2945)
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=civ&group=02001-03000&file=2945-2945.11
I’ve tried to read these codes, I guess you have to be an attorney to get it! Well actually, being an attorney was one req. being a loan broker and
blah, blah, blah. Can anyone summerize this code for me? I had other advice from people saying that I should forget dealing with foreclosures or preforeclosures in CA. Any suggestions?
I know that specific things in the contract have to be an exact font-size and specific phrases have a read exactly as shown (among other things). These two codes are critical for California though. If anyone knows a good attorney here in California (as i’m still searching for a good one), please post or PM.
I am a negotiator. I only negotiate with the trustee on behalf of a LLC to reach a mutually agreeable settlement offer.
Interesting reading, but to my perception pretty toothless. I know of three extraordinarily unscrupulous outfits that are raping people on a daily basis. If you are in foreclosure/have been foreclosed upon you are in no shape to retain a lawyer and file suit against anybody.
Heck, one of the problem children IS a lawyer.
As much as i agree with you wheelema, the question is, will this fly legally if something happens? Obviously i have no idea but you never can be to safe. You just never know. And if someone is going to make it their mission to peg you to the wall, they will dig and dig hard.
Interesting reading, but to my perception pretty toothless. I know of three extraordinarily unscrupulous outfits that are raping people on a daily basis. If you are in foreclosure/have been foreclosed upon you are in no shape to retain a lawyer and file suit against anybody.
I to have experienced a few outfits that really need good a55 whoopin’. But karma always finds her way home. And even though someone who just went through a foreclosure is in no shape to sue anyone, that doesn’t mean they’ll always be in that position.
And what harm would it be to add a certain line in your contracts at front-size 12? Or to add another paragraph that’s required by the CA civil code EVEN IF you’re not ‘technically’ acting as a consultant? Pre foreclosure is pre foreclosure. Can that be proven? I don’t know. Do i want to find out in a court of law? No way!
The point is, protect yourself completely and everything you worked for 100%. Don’t leave yourself open for debate for anyone who knows how to spin a situation (or the law) out of control.
Just my opinion though.
I agree it is allways best to cover your ---- as the saying goes . Who cares if you have a very long and detailed contract for some one YOU ARE COVERED
My readings are:
You cant go in to " help save your home" and do nothing and you end up doing a short sale.
And I think that this is what you are refering to, when these so called investors are ripping people off.
You can however get a disclaimer signed that you have tried to save the home ( if of course you have) and it fell through and now you are moving on with the foreclosure/ short sale.
Our attorneys advise is to get the home owner to apply for a forbearance then it takes you right out of the legislation all together.
GQ
So if the homeowner applies for a forebearence or modification then I should be alright legally? If I present myself as someone who only deals with this type of help(which is what I’m going for here) does anyone know if this would be considered foreclosure consulting? I was told that in CA, I might have to farm this type of work out of state? This sounded stupid to me! I’m sure with all the foreclosures here in southern CA, there must be 100’s of these types of consultants, some who might be operating unethically! I see ads all the time on Craig’slist.com for people wanting to help others who face foreclosure. How are they doing it?
Interesting, didn’t know that. Will have to ask. Thanks gq…
we are working very close with a top attorney right now. to take CA with a storm.