'Foreclosure Consultants' Targeted

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Arizona Daily Star  
February 8, 2010
Fischer, Howard

Arizona legislators are acting to curb foreclosure rates and crack down on scammers billing themselves "foreclosure consultants." A proposed law in the House requires that they provide contracts in advance of signing and give homeowners the option to cancel within three days; and it also bars them from being paid fees -- typically $3,000 or $4,000 -- upfront. Fraud or deceit against a homeowner would be a Class 1 misdemeanor, punishable by up to six months in jail and a maximum fine of $2,500. Additionally, the measure would allow homeowners to sue to recover any cash they lost in fees as well as legal fees.

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