California Bar Journal Runs Ads for Loan Mod Firms? Seriously??
The California State Bar has made no secret of its feelings about lawyers who represent clients seeking loan modifications.Â They donâ€™t like it.Â Why?Â Because what the California State Bar knows about obtaining loan modifications you could put in a thimble.
Thereâ€¦ I said it.Â Somebody had to say it, so I did.Â There are literally hundreds if not thousands of attorneys who have thought it, so I said it.Â Thereâ€™s no question that I should have said it months ago, and Iâ€™m not proud that I didnâ€™t.Â Itâ€™s very unlike me to hold back like that.
Itâ€™s not like itâ€™s a debatable argument.Â The Bar has voiced its view openly.Â As bizarre as it may sound on the surface, they simply donâ€™t want homeowners to hire an attorney when theyâ€™re at risk of losing their homes.Â To me itâ€™s shocking, and I donâ€™t really understand why every single other U.S. citizen wouldnâ€™t be equally shocked.Â It has to sound odd: Tonight on Channel 5 Newsâ€¦ The Bar association that doesnâ€™t want you to have a lawyer if youâ€™re at risk of losing your homeâ€¦ film at eleven.
Who would have ever thunk it?
The State Bar in California even went to the point of publishing the names of attorneys they were investigating for misconduct related to offering to represent clients seeking loan modifications.Â No specific misconduct, mind you, just general misconduct.Â And you know how a vague and ambiguous listing of names always exerts a calming influence over a somewhat chaotic political witch-hunt.Â It was just exactly what the doctors ordered, letâ€™s just say that.
So, come to find out that the California Bar Journal is running ads for a company called â€śNice Mod,â€ť a DRE licensed company that presumably accepts no money until the clientâ€™s mortgage has been modified, paid off in full, and the homeowners have both passed away, in the case of a married couple.
Nice Mod?Â Nice Mod?Â Iâ€™m sorry, but is English a second language?Â If so, thenâ€¦ good job.
Iâ€™m told this company has been running print ads in the California Bar Journal for some time too.Â Like itâ€™s nothing.Â And not only that, but according to this companyâ€™s print ad they have:
A. “Unique knowledge of investor and servicer motivations,” which apparently leads to the “optimization of client results.” Â Wow.Â Unique knowledge.Â Knowledge thatâ€™s unique.Â One-of-a-kind unique?Â Or everybody-already-knows-it unique?
B. “Servicer contacts at the highest levels,” which is said to “reduce delay and increase responsiveness during negotiations.” Â Arenâ€™t you dying to throw this company a few referrals?Â Iâ€™ll pay to watch them handle someone whoâ€™s never been late on an Indy Mac adjustable with a Wells Fargo purchase money second.Â I canâ€™t wait to see the responsiveness at the highest levels.
C. They also “take the guess work out of modifications”â€¦ the guess workâ€¦ from modificationsâ€¦ they take it outâ€¦ out-a-thereâ€¦ goneâ€¦ no more guess workâ€¦ with Nice Modâ€¦ itâ€™s a certainty type dealâ€¦ with Nice Modâ€¦ loan modificationsâ€¦ are certainâ€¦ no more guess workâ€¦ bitchinâ€™.Â Why donâ€™t I know about these guys?
Some of the reason behind my not knowing them has to be the fact that theyâ€™re advertising in the California Bar Journal, the second to last place that Iâ€™d ever think of looking for a loan modification company, the last place being in Rich & Richer magazine, or whatever the equivalent themed magazine is called these days.
The other reason may be that the firm seems to be advertising for attorneys.Â Attorneys, it would seem, can outsource their “processing” of loan modifications to this company.Â That way they donâ€™t have to do the work themselves. Â They can take in the client and outsource the work to a DRE licensed firm. Â And that’s okay. Â That is apparently A-Okay with the California State Bar. Â You can even promote such a business by advertising in the California Bar Journal.
Now. if you were an attorney advertising in the Bar Journal, on the other hand, it would seem that you might end up on someone’s “list,” but a real estate firm… not so much.
Well fine and dandy, and how do you do!Â I donâ€™t believe Iâ€™m going to write any more words about that subject, no I donâ€™t believe I will at that.
Lo siento.Â Que se mejore pronto.
(Iâ€™m sorry.Â And I hope you get better soon.)
And my apologies to the presumably nice folks at Nice Mod. Â I certainly didn’t mean to imply anything about their organization, except to say that they were probably quite smart to advertise in the California Bar Journal.