The loan modification industry is starting to resemble the mortgage industry’s infamous battlefield of blown up companies and unemployed or jailed salesmen. Only this time it was more like Hiroshima than Iraq and the once alive streets of snake oil salesman and sham law firms are starting to look more like a nuclear bomb just exploded.
The FTC, state AG’s, DRE and the BAR are leading the charge by taking out companies, brokers, lawyers and anyone who is scamming homeowners.
I reported last month on Sean Rutledge, a California attorney and owner of United Law Group who had charges brought against him by the California BAR. Well now it looks like he is suing the BAR for apparent misconduct in handling his investigation.
This exchange that was supposedly between the California Bar’s chief prosecutor and Rutledge’s lawyers is pretty hillarious. I found it quite comical because the prosecutor says, “UNDER NO CIRCUMSTANCES WILL I GRANT THAT LITTLE AL CAPONE ANY ACCOMMODATION AT ALL.”
Maybe attorney Rutledge didn’t like that comment because he is of Scottish ancestry? Geez, the Days of Our Loan Modification Lives seem to amaze me daily.
It was in May of 2008 that Rutledge received a letter from Byer at The State Bar of California, stating that charges were being brought against him for alleged violations of the California Code of Ethics. The letter offered Rutledge the chance to avoid the charges being filed, but he would have to meet with Byer to discuss this option on a date provided by Byer. On that date, however, Rutledge was scheduled to receive his insulin pump and be trained in its use.
Rutledge contacted Byer to tell him that he was certainly willing to meet with him, but that the date was problematic as a result of his medical condition. Byer refused to move the date, and so Rutledge retained legal counsel. His attorneys contacted and spoke at length with Byer whose tone was now hostile. Byer again refused to offer any kind of accommodation for Rutledge, and is alleged to have told Rutledge’s attorneys: “UNDER NO CIRCUMSTANCES WILL I GRANT THAT LITTLE AL CAPONE ANY ACCOMMODATION AT ALL.”
Moe is my hero. He should be YOUR hero too. It’s a huge comfort to me in this chaos we are in that people like Moe Beddard are exposing some of the toxic activity-FINALLY- that is being inflicted on this country. Thank you, thank you, thank you.
~TB in the Pacific Northwest
Thanks Theresa for the kind words. I wish you the best!
if i get a loan modification on an owner occupied home can i eventually rent it out and still keep the loan?
Yes you can.