Foreclosure consultants must register with the state – Houston Business Journal:
Foreclosure scam artists beware, Attorney General Jerry Brown has his eye on you.
Brown has directed that foreclosure consultants must register with his office and post a $100,000 bond by July 1, the latest get-tough effort against scam artists who “prey on” consumers, especially those facing the possibility of losing their homes, he said in a news release Monday. Foreclosure consultants who fail to comply, will face one year in jail and as much as $25,000 per violation.
“California is awash with con artists who prey on vulnerable families facing foreclosure,” Brown said. “By forcing foreclosure consultants to submit detailed information to my office and post a $100,000 bond, this registry will help bring long-overdue transparency to this shadowy world.”
Foreclosure consultants will work with homeowners to prevent foreclosures. But many demand "huge up-front costs" but fail to help financially strapped homeowners, Brown said.
Brown’s office will issue a certificate of registration for foreclosure consultants who register and post the $100,000 bond. A copy of the registration form is available at http://ag.ca.gov/register.php under the “Foreclosure Consultant Registry.” Foreclosure consultants must return the completed form by July 1.
Then, consumers can call the Attorney General to check on the credibility of a foreclosure consultant.
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