Siringoringo Law Firm scams it’s way to jail!
Search warrants were served by law enforcement officials in five separate locations in Orange and San Bernardino counties in response to an alleged multi-million dollar loan modification scam that was created and carried out by the Siringoringo Law Firm and Clausen & Cobb Management Company.
Taken into Custody
Additionally, the San Bernardino County Prosecutor’s Office recovered 445 grams of marijuana packaged individually for sales during the early morning raid. During the raid, Lawyer Stephen Siringoringo and his wife, Kendi Smith-Siringoringo, were taken into custody.
Loan Modification Scam
In late July the California State Bar barred Siringoringo from practicing law because they found the attorney had been illegally accepting advance fees for performing mortgage modifications for clients.
The state document states Siringoringo “poses a substantial threat to clients or the public” because the law firm worked with thousands of distressed and vulnerable homeowners.
Testimony from the state hearing showed the Garden Grove-based law firm that has offices in Rancho Cucamonga, Upland and Glendale, sought out clients via social media, Spanish-speaking TV, and radio shows broadcasting throughout the coastal and Inland regions of Southern California. According to the State Bar Court decision, the firm obtained over 4,300 loan modifications. The complaint lists declarations from 14 individual clients. There are other assertions about the up-front mortgage fees of more than $3,500. The state bar complaint found some of the fees were as high as $8,490.
State Law and Educating Yourself
According to California state law, fees cannot be collected until the mortgages are modified. This is just one of many scams that uses the promise of securing a loan modification for vulnerable homeowners. It’s important that you educate yourself on all the various scams revolving around loan modifications in order to ensure your loan modification is legitimate and won’t cost you, financially or emotionally.