New Consumer Protection for those seeking Loan Modification

SB 94, Consumer protection legislation, was signed into law this week in Sacramento CA. The purpose of this legislation was to abolish the practice of attorneys and modification companies taking upfront fees from consumers. Those writing the bill felt that consumers should be able to work with their bank or rely on advice from non-profits to get their banks to modify their loans.

The heart of the argument for these protections was the fact that rarely was anything being delivered for the fees paid. In California less than 20% of all modifications are successfully completed. This is because banks often fail to recognize the reality of the consumer's situation. In these instances the modification becomes simply a postponement of the foreclosure, not a solution to the consumer's real problems.

The public, not being trained in the ways of banks, are unable determine whether what their bank is offering will be an actual solution to their problem or simply a band aid that they will later regret. Consumers need expert help and non-profits or basic education may not be enough help. This is where RE/MAX Gold Real Estate can provide answers.

Nfinit solutions a Nehemiah Company and Remax Gold Real Estate have formed alliance to help consumers deal with the expected rising foreclosure tide in 2010, 2011, and 2012. Home Retention Advantage by Nfinit solutions a Nehemiah Company is an SB 94 compliant program helping RE/MAX Gold Real Estate customers keep their homes.

All of those employed is this process are DRE Licensed specialist who work directly with homeowners to design a retention plan that fits their individual needs and sitation rather than focus on one solution.

Education from Nfinit solutions a Nehemiah Company and communication with a RE/MAX Gold Real Estate agent are the conerstones of our program. Whether or not you decide to participate in our Home Rention Advantage program you can benefit from Nfinit solutions a Nehemiah Company Education Course and Learning Center resources available at the Nfinit Website.

Your first step as a consumer is to call me, Loren Ransier DRE 01132890, lransier@remax.net 916 439-3588.