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California Foreclosure Consultant Act

"California Foreclosure Consultant Act" comes under California Civil Code sections 2945 through 2945.11. The Civil Code Section 2945.1 defines the California Foreclosure Consultant. The foreclosure consultant can be any individual who act to perform any of the following services
  • Help to get right of reinstatement
  • Postpone or stop the process of foreclosure sale
  • Get the forbearance for his or her client
  • Assist in getting further loan and extensions in reinstatement
  • Protect the home from foreclosure
  • Assist is having better credit reports that has turned bad because of foreclosure

California Foreclosure Consultant Law

According to California Foreclosure Consultant Act if the homeowner has been served with the Notice of Default then no advance fee can be charged by the foreclosure consultant in case assistance for loan modification etc is provided. Attorneys are exempted from this law. In case the notice has not been served then the advance fee may be asked by the consultant but a written contract is must to have in this case. The California Department of Real Estate gives the no objection letter once this contract is submitted with the department. It is must to do thing and that to prior to any services.

Further according to the California Foreclosure Consultant Act there are provisions so that homeowners do not get trapped in the false promises of the consultants. For this the contract must be
  • Written
  • Contains the provision for cancellation of the contract withing five business days by the homeowners
  • No misleading representations
  • Fair dealing

California Foreclosure Consultant Registration

The California Foreclosure consultant will have to register with the Department of Justice in order to work. To be operational the consultant will further have to keep the surety bond worth $100,000.00. Any violation can revoke the license and registration of the California foreclosure consultant.

In case you are looking for foreclosure consultant in California then it is better to consult the attorney and get the information regarding license and registration from the California Department of Real Estate and the Department of Justice. For further help keep checking the pages of Realestatezing.com and also the given links.
 
Hub Pages
Read matter on the California Foreclosure Consultant Act and get to know about the bond, counseling and other features of the foreclosure consultant act in CA.
Website:http://hubpages.com/hub/Foreclosureconsultantact
 
Bryant Surety Bonds
If you are a California real estate consultant and looking for the surety bonds then you will surely get the required information on foreclosure bonds from this web link.
Website: http://www.bryantsuretybonds.com/
 
The Department of Consumer Affairs
Check out information on California foreclosure consultant bond and registration requirements.
Website: http://dca.lacounty.gov/law09ForeclosureConsultants.html
 
CALIFORNIA CODES CIVIL CODE SECTION 2945-2945.11
From this web link check out information on Foreclosure Consultant Law California. Also check the complete legal foreclosure consultant statute California for further help.
Website: http://www.realtytrac.com/interior/ccsection2945.htm
 
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