Wednesday, June 19, 2013

Loan Modification Not Unauthorized Practice

The South Carolina Supreme Court has held that modifying a loan without the participation of an attorney does not constitute the unauthorized practice of law.

The case involved petitioners who had obtained loan modifications and failed to make timely payments under the new terms.

They tried to prevent foreclosure by contending that the lenders had engaged in unauthorized practice by modifying the loans without using an attorney.

The court disagreed. (Mike Frisch)

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