Tuesday, May 05, 2009

Cal Bar Monitors Loan Modification Ads

Watch TV for even a few minutes these days and you are likely to see an ad for a loan modification service. Same for radio advertising.

Some of these ads sound very promising ... are they too good to be true?

The California State Bar is asking that very question. Last month the Bar began notifying lawyers that the chief trial counsel’s office wants to monitor their loan modification-related advertising.

"Included in the scrutiny of violations of the Rules of Professional Conduct regarding false and misleading advertising, bar prosecutors will be looking at whether lawyers are guaranteeing success in securing loan modifications or are implying that they have expertise or a special license from the State Bar to work on foreclosure cases, said Chief Trial Counsel Scott Drexel."

Read the full story here. Other state bar associations are undoubtedly paying attention. Florida requires all TV advertising on any topic be filed for approval in advance of use. Check with your local state bar association for any recent rule changes that may apply to your firm.


Anonymous said...

Hopefully the bar associations in other states will rein in the California lawyers who are marketing out of state for loan modifications. I have seen a flood of lawyers licensed out of California who are being used as puppets for attorney-backed loan modification companies in states where they are not even licensed. I expect these lawyers to be disciplined for practicing law without a license out of their jurisdiction and for splitting fees with a non-attorney.

Mortgage Modification said...

Thanks for sharing this info post.