If you are a real estate broker in California handling loan modifications and looking to take an advance fee for your services, you must submit your advance fee agreement to the California Department of Real Estate and receive a No Objection Letter.
If you do not have a advance fee agreement drafted, you can use the Department samples for quicker approval. Whether you submit your own or the Department’s sample agreement, you still must submit any advertising or promotional materials in connection with the advance fee services.
Related posts:
- Loan Modification Tips: Avoid Becoming a Victim
- Beware of Loan Modification Companies
- Are You Getting the Correct Advice From Your Real Estate Agent About Your Short Sale?
- CA Real Estate Licensee ID Number Disclosure on Materials Starting July 1, 2009
- More Loan Modification Madness: 133 Loan Mod Companies Targeted by CA Attorney General
