We should all be very happy about this bill because this will force all of those individuals and companies that operate without integrity to get out of the business or comply with the law. The Bill prohibits taking money up front before services are performed. This is referring to forbearances, workout agreements, loan mods, etc.
You don’t know how many homeowners I have talked to that say that they gave an someone a $1000 or a payment equal to 1 month mortgage payment to negotiate with their lender for them and they never hear from that investor again. Homeowners don’t deserve to be treated like this and I’m so happy they included this in the bill.
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