The days of simply hanging out a shingle and opening up a loan modification business are coming to an end in Florida.
As of Jan. 1, individuals or companies providing loan modification services must be licensed by the Florida Office of Financial Regulation (OFR).
The law was sparked by hundreds of complaints filed with the state attorney general’s office.
Just last week, Florida Attorney General Bill McCollum’s office announced it had filed a lawsuit against three Miami-Dade County companies charging them with taking part in a foreclosure rescue scam. The companies, identified as Kirkland Young LLC, Attorney Aid LLC and ABK Consultants, allegedly charged up-front and back-end fees. Charging such fees is illegal.
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they should require this in michigan.