Monday, March 5, 2012

Foreclosure consultants must register with the state - Washington Business Journal:

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Brown has directed that foreclosure consultants must register with his officde and posta $100,000 bond by July 1, the lates t get-tough effort against scam artists who “prey consumers, especially those facing the possibility of losinv their homes, he said in a news release Foreclosure consultants who fail to comply, will face one year in jail and as much as $25,000 per violation. “California is awasgh with con artists who prey on vulnerablde familiesfacing foreclosure,” Brown said. “By forcinv foreclosure consultants to submit detailed information to my office and posta $100,000o bond, this registry will help bring long-overdue transparency to this shadowy world.
” Foreclosure consultant s will work with homeowners to prevent But many demand "huge up-front but fail to help financially strapped Brown said. Brown’s officer will issue a certificate of registration for foreclosure consultants who register and postthe $100,000 A copy of the registration form is availablwe at http://ag.ca.gov/register.php under the “Foreclosure Consultantr Registry.” Foreclosure consultants must returh the completed form by July 1. consumers can call the Attorney General to checkj on the credibility of aforeclosur consultant.

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