A reader and tipster (send in your tips here) sent in a copy of the retainer agreement he was given by Fieldstone Law at 1900 Quail Street, Suite 137, Newport Beach, CA 92660.
In looking over the agreement I had some observations I wanted to share.
It appears the focus of the retainer agreement is Alternate Dispute Resolution services with the lender of the tipster (send in your tips here). in this case Bank of America.
The law firm says they will talk to the client, witnesses, identify appropriate parties, review documents, consult, and communications.
After this they will discuss, write and meet about the case, perform some legal research and prepare a written opinion if required or appropriate.
Then they will review the case, request materials, gather documents, and prepare affidavits.
Finally they will plan for a four-way meeting, create a Alternate Dispute Resolution demand letter, draft offers to settle and implement a settlement offer.
What I found interesting was when the firm would collect their fee. It appears the client has three options.
The first is to accept the settlement offer the firm will offer the lender. Second, is to continue the representation into a mass joinder lawsuit. Third, continue to work towards an agreement with the lender.
As you can see above, if options two or three are selected the client will then have to pay $250 or $350 in addition each month.
This pages has some interesting items on it as well.
It says Fieldstone Law “will not represent Client in any lawsuit, or to intervene in any proceedings and/or stop any proceedings for any specific issue, Client may retain an attorney at Client(s) own expense.”
It also says the attorney does not have insurance in case of errors and that Fieldstone Law doesn’t even have to do the work themselves, they can farm it out to anybody they want and the client is giving authorization for them to release client funds to pay for it.
The agreement gives no guarantee of any outcome and is silent about refunds.
And All This for Only…
Fieldstone Law provided the consumer with a form for payment for $4,500.
It appears the website for Fieldstone Law was recently transferred in April 2011 to an owner I can’t see.
Fieldstone Law was incorporated in California in June 2011
FIELDSTONE LAW PC
Entity Number: C3387216
Date Filed: 06/20/2011
Status: ACTIVE
Jurisdiction: CALIFORNIA
Entity Address: 100 W BROADWAY STE 100
Entity City, State, Zip: GLENDALE CA 91203
Agent for Service of Process: LEGALZOOM.COM, INC.
Agent Address: 100 WEST BROADWAY SUITE 100
Agent City, State, Zip: GLENDALE CA 91210
The firms states they are located at:
1900 Quail Street Suite 137
Newport Beach CA 92660
T. 888.520.1176
F. 949.313.5027
E. info@fieldstonelaw.com
Odd Items
In checking out the address associated with the company I discovered it was the same address that had been used for marketing mass joinder suits under the name of K2 Law and Mitchell J Stein & Associates.
“Vince Malek
K2 Law / Mitchell J. Stein & Associates
1900 Quail Street, Suite 137
Newport Beach, CA 92660
Office (888) 938-5554 x2194
Direct (949) 313-2194
Fax (714) 845-9094
vmalek@k2Law.net” – Source
Another listing shows that address was related to Kramer & Kaslow, “Orange County Division 1900 Quail Street, Suite 137 Newport Beach, CA 92660 Phone: (888) 938-5554 Fax: (949) 313-5027 Email: retainer@k2lawfirm.com.”
The officer of Kramer & Kaslow and Mitchell Stein were recently raided by law enforcement in California.
Another interesting tidbit is that even though Fieldstone Law says their attorney is Frank Barilla, he actually lists a different office address and telephone number.
2107 N Broadway #101
Santa Ana, CA 92706
(714) 664-0242
What’s interesting is that according to State of California records, that company is suspended.
LAW OFFICES OF FRANK BARILLA AND ASSOCIATES, P.C.
Entity Number: C2721554
Date Filed: 02/18/2005
Status: SUSPENDED
Jurisdiction: CALIFORNIA
Entity Address: 2107 N. BROADWAY STE101
Entity City, State, Zip: SANTA ANA CA 92706
Agent for Service of Process: FRANK BARILLA
Agent Address: 2107 N. BROADWAY STE 101
Agent City, State, Zip: SANTA ANA CA 92706
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please help me I have been dealing with this company for a year with no end result and alot of empty promises not to mention alot of bullshit fed to me. Please let me know what to do to stop them and get out of this. thanks jgrace
DO NOT FALL FOR THIS!!! Any mass joinder and similar stuf DOES NOT work. I’ve lost thousands trying to get my loans modified by a lawyer.
I received a request from Fieldstone Law Pc in Santa Ana, Ca…to contact them re: Bank of America. It states to respond by My 18, 2012; stating I will lose my eligibility to file a claim if I do not. Gives an 888-535-1546 phone # to call to confirm eligibility. I do not plan to respond as it states on the front of the envelope that it is “Legal Advertising”. So it’s obvious they want me to pay them for a claim, but does not explain or give information.
This company is a scam and nothing more. I refuse to call this obviously illegal legal advertisement.
Check out Freeandclearin90.com for some interesting information about the banks. I am not affiliated with them in any way, I have just gained a lot of knowledge from that site and it offers some very good ways you may be able to get information and possibly relief without an attorney. Good form letters to send as well that do get replies (I’ve used them).
Thanks for the link. I’ve added the site on my list to review for a scam report.
I was sent a mailer by the Law Offices of Frank Barilla that they could initiate an Alternate Dispute Resolution with my lender to bring down my monthly payments and interest rate to a fixed rate (I currently have an adjustable rate) to put into arbitration it would cost me $2, 170, an additional $2,170 if it should go into litigation. They also have enlisted Fieldstone Law as a third party. I was already refused a loan modification. Are these people legitimate?
I was sent a mailer by the Law Offices of Frank Barilla that they could initiate an Alternate Dispute Resolution with my lender to bring down my monthly payments and interest rate to a fixed rate (I currently have an adjustable rate) to put into arbitration it would cost me $2, 170, an additional $2,170 if it should go into litigation. They also have enlisted Fieldstone Law as a third party. I was already refused a loan modification. Are these people legitimate?
Got a flyer through the mail from Frank Barilla’s law firm/Fieldstone Law office stating they provide services for Alternative Dispute Resolution (ADR) in resolving predatory lending cases against CitiMortgage. I replied to the add and inquired further. Upon corresponding through phone and emails nobody could provide their success rate in handling ADR’s in this particular issue. Staff would only emphasize that they will work zealously in getting a good result for the individual case. They also insisted on Mr. Barilla’s good track record but to my dismay they couldn’t provide a simple statistic/percentage related to results/success in pursuing ADR’s.
Got a flyer through the mail from Frank Barilla’s law firm/Fieldstone Law office stating they provide services for Alternative Dispute Resolution (ADR) in resolving predatory lending cases against CitiMortgage. I replied to the add and inquired further. Upon corresponding through phone and emails nobody could provide their success rate in handling ADR’s in this particular issue. Staff would only emphasize that they will work zealously in getting a good result for the individual case. They also insisted on Mr. Barilla’s good track record but to my dismay they couldn’t provide a simple statistic/percentage related to results/success in pursuing ADR’s.
How did this turn out? In a similar situation… What was your advice to this guy? Is Fieldstone Law a joke?
Steve, I was on a call today and it was suspicious “complete this form so Frank knows you are serious and that is the only way he will speak with you”. I don’t know what to do . . . I’m current on payments, house has lost 50% of it’s value since purchase in 2006, i’m vested more than my 1st mortgage. This is my long term home, 4 children in school and can’t walk away . . . I put $300K down on my home. My credit is perfect . . . I’m rattled, where to turn?
Let’s get you un-rattled.
Is your issue that the home has lost value and you can’t get out? Please clarify it for me and let’s get you headed in the right direction.
Steve, I met with these guys today, after setting an appointment over the phone. They said they would have a retainer for me to look at but did not. However, they did mention the $4500 retainer fee. I got a little suspicious and found this. Is this type of baiting legal? Has anyone achieved results through ADR? I’d like to hear of success stories before I fork over the $. They said 90% of clients see results within 60-90 days, principal reduction and fix interest rate for 30 yrs, but no guarantees. I answered their mailer because I have had no success in even speaking with anyone from Chase, my current lender. I am in negative equity by about 70K, after investing 96K over the past 6 years. Frankly, I don’t have the time to haggle with Chase, but $4500 + $1250 contingency fee is a lot for no gurantee. What are my options?
I think until at least one of the cases has worked its way through the legal system, which none has, you should listen to the advice of one of the lawyers involved in pursuing similar cases.
He said:
“Let me be very clear: joinder cases are not about emergency relief. They won’t stop a foreclosure, or get a house back. Except as the result of a settlement (which are few and far between), they won’t result in a loan modification. Joinder cases are a longer term potential remedy intended to seek financial damages and restitution for wrongs allegedly committed by the banks and other defendants. ” – Source
Does that sound like the kind of truth you heard today?
Thank you Steve. Your lawyer’s advice sounds different from what I heard. They said they are not seeking modification, but a settlement that would result in a lower principal and fixed monthly (isn’t that a loan mod)? Without proof of success, I’ve decided to seek other options. Another question, how do I join the class action suit?
Well you’d have to find a class suit to join but I’m not aware of any. One reason for the lack of a true class suit is the attorneys are not confident a suit would actually resolve and don’t want to invest the time pursuing it.
Dear Steve
This is the message I just received from Fieldstone Law after I told them I was unsatisfied for their lack of delivering the contract in a timely manner and the price they demand without giving me any customer testimonial. For someone who wants my business, I would question these tactics. Not to second guess myself, I would assume one would advise to stay away, correct??
“Michelle I received your message today. I can’t understand why you would want to explore “other options”. You’ve already tried to get a loan mod and that didn’t work. You can’t do a refinance because you have no equity. This is your only option you have left. I know it is scary to invest this amount of money but I don’t think you have any other choice unless you want to keep paying into this negative equity situation. If you read the retainer I sent you, it shows that we do the work and then you pay. You then sign off to move to the next phase. You are in a severe situation and we can help you. You just need to make a big decision, the right decision. I know you are capable of doing this. If you decide to not move forward with us, we cannot accept you as a client if you decide you would like to move forward in the future. You have until 5:00 o’clock tomorrow to let us know whether or not you would like to move forward. If you need time to put the money together we can work something out, but you need to let me know tomorrow. Thank you, Scott”
Sounds like they are giving you the takeaway close. If you don’t act they won’t let you in. To me it sounds like a sales trick. Does that sound like the type of thing a legit law firm would say to you?
Thank you for looking into this –and your timing is amazing! I received a notice of a class action suit against Washington Mutual with Fieldstone Law as the representative. This Fieldstone Law is supposedly located at 4695 MacArthur Court, 11th Floor, Newport Beach, CA 91660. The notice gives a website and a phone number to call to respond to “the serious nature of this matter…”. I tried the website and came up with nothing. Hmmm, a little suspicious. So I decided to Google Fieldstone Law, found their website and then and found your post. I am so glad I did!
The mailer you received sounds similar to those the California Attorney General called deceptive and misleading.
I signed on with this Alternative dispute resolution with Fieldstone Law in Sept. and am feeling very stupid at this point. Before I signed I did alot of searching and found nothing negative at the time. Nothing is working out & I don’t know if it is too late to get out? IndyMac does not seem bothered by any of the letters that have been sent and it seems I only hear from Fieldstone If I contact them with questions. Is it too late? Help, what can I do?? I wish I would have found this sooner, rather than later.