SENATE BILL 94/CIVIL CODE SECTION 2944.6 STATEMENT AND DISCLOSURE
Legal Loan Review is a performance-based company. Our unique system allows you to pay only after contracted service level work has been
completed toward your mortgage modification.
From the effective date of the legislation, October 11, 2009 forward, our law firm will no longer collect advance fees and will collect fees for its
services rendered only after provision of those services. As permitted by Senate Bill 94, for law firms but not any other entity such as a loan
modification company, our law firm will break its services into three separate phases and charge a separate, non-refundable fee for each phase,
with payment due only upon completion of the subject phase. Although somewhat redundant, our law firm will require clients to sign a fee
agreement for each phase of services that the client elects for our law firm to provide, described as follows:
Review, analysis, consultation and preparation of the loan modification application;
Submittal, follow-up and negotiation of the loan modification application;
Review of the modification or temporary forbearance under the Obama Plan (or other loan modification program) and counseling regarding the modification or alternatives to modification, such as short sale, in the event of denial., or in the event that such counsel is all that the client seeks.
A fee will be due only after each phase has been completed, as described in the relevant fee agreements between our law firm and the client.
Further, in every instance, prospective clients will be required to acknowledge receipt of the following disclosure as required by Civil Code
It is not necessary to pay a third party to arrange for a loan modification or other form of forbearance from your mortgage lender or servicer
You may call your lender directly to ask for a change in your loan terms. Nonprofit housing counseling agencies also offer these and other forms
of borrower assistance free of charge. A list of nonprofit housing counseling agencies approved by the United States Department of Housing and
Urban Development (HUD) is available from your local HUD office or by visiting www.hud.gov.
Notice to Oregon Residents: Legal Loan Review, Inc. (“LLR”) currently do not offer any services in the state of Oregon.