The Foreclosure Rescue Fraud Prevention Act of 2008 will help distressed home owners from falling victim to deceptive foreclosure prevention practices. The law is part will require that
" a person who tries to arrange a new payment plan with lender or other alternative to foreclosure - provide a written agreement to the consumer and obtain the consumer's signature before beginning any services. The legislation further requires the rescue consultant to include in the written agreement a specific notice of the homeowners’ right to cancel, including the procedure for cancelling, and a disclosure that the consumer should contact his or her lender first before signing because the lender may be willing to negotiate a payment plan free of charge. " news release
Related Florida real estate views:
Countrywide and Florida reach agreement
Foreclosure help for homeowners
HUD/FHA deed in lieu eligibility
- Greg Staker 407-304-0255
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