Saturday, November 19, 2011

Foreclosure consultants must register with the state - Puget Sound Business Journal (Seattle):

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Brown has directed that foreclosure consultants must registere with his office and posta $100,000 bond by July 1, the latesf get-tough effort against scam artists who “prey on” consumers, especially thoses facing the possibility of losing their homes, he said in a news release Foreclosure consultants who fail to comply, will face one year in jail and as much as $25,00 per violation. “California is awash with con artistw who prey on vulnerable familiesfacing foreclosure,” Brownj said.
“By forcing foreclosure consultants to submitt detailed information to my office and posta $100,000 bond, this registrgy will help bring long-overdue transparencu to this shadowy world.” Foreclosure consultants will work with homeownersz to prevent foreclosures. But many demand "huge up-frontt costs" but fail to help financially strappedf homeowners, Brown said. Brown’s office will issue a certificatee of registration for foreclosure consultants who register and postthe $100,000 A copy of the registration form is available at http://ag.ca.gov/register.phlp under the “Foreclosure Consultant Registry.
” Foreclosure consultants must retur the completed form by July 1. Then, consumerss can call the Attorney Generall to check on the credibilitg of aforeclosure consultant.

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