The California Department of Real Estate has posted a Consumer Alert on a scam that is being marketed as a “Mass Joinder” or Class Litigation Lawsuit.
There are a variety of angles, pitches, and techniques that marketing companies, unlicensed entities, and “attorney-affiliated” firms are using to lure consumers into a “high fee – long promise” scenario where there was no real help being offered in the first place.
We don’t typically see this sort of thing at Design Escrow because of the nature of this scam, since there isn’t a transaction taking place a consumer is often duped into thinking that the person selling them the loan modification, ceasing foreclosure, or “Mass Joinder” would be the one doing the paperwork.
Even though Senate Bill 94 was passed about two years ago on October 11, 2009 there are still a wide variety of “businesses” offering a service that is now prohibited under SB94. Anyone offering you a large re-structuring of a loan for a high-up front fee should make you EXTREMELY wary. You can read the full report from the California Department of Real Estate by visting the PDF via this link to their site.
Unfortunately some consumers have already fallen into the trap of the “Too Good to be True” promises and have lost considerable amounts of money. If you need help with an escrow (or anything at all involving real estate, or business paperwork) we can provide a backstop and safety net of competent and experienced people to help you understand exactly what is being offered and how it impacts your situation.
We gladly welcome questions and are ready to help, even if you’ve never worked with us before!