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2005 LAWS OF MARYLAND
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Ch. 509
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(II) MORTGAGE LOAN OR OTHER PAYMENTS MADE ON BEHALF OF A
HOMEOWNER BY A FORECLOSURE CONSULTANT OR FORECLOSURE PURCHASER;
(III) REASONABLE COSTS PAID TO THIRD PARTIES NECESSARY TO
COMPLETE A FORECLOSURE RECONVEYANCE TRANSACTION OR TO AVOID
FORECLOSURE;
(IV) THE PAYMENT OF MONEY TO SATISFY A DEBT OR LEGAL
OBLIGATION OF THE HOMEOWNER; OR
(V) THE REASONABLE COST OF REPAIRS FOR DAMAGE TO THE
DWELLING CAUSED BY THE HOMEOWNER
(3) "CONSIDERATION" DOES NOT INCLUDE AMOUNTS IMPUTED AS A
DOWN PAYMENT OR FEE TO THE FORECLOSURE PURCHASER OR A PERSON ACTING
IN PARTICIPATION WITH A FORECLOSURE PURCHASER INCIDENT TO A CONTRACT
FOR SALE, DEED, LEASE, TRUST, OR OPTION TO PURCHASE ENTERED INTO AS PART
OF A FORECLOSURE RECONVEYANCE, EXCEPT FOR REASONABLE COSTS PAID TO
THIRD PARTIES NECESSARY TO COMPLETE THE FORECLOSURE RECONVEYANCE.
(C) (B) "FORECLOSURE CONSULTANT" MEANS A PERSON WHO:
(1) DIRECTLY OR INDIRECTLY MAKES ANY SOLICITATION,
REPRESENTATION, OR OFFER TO A HOMEOWNER TO PERFORM, WITH OR WITHOUT
COMPENSATION, OR WHO PERFORMS, WITH OR WITHOUT COMPENSATION, ANY
SERVICE THAT THE PERSON REPRESENTS WILL IN ANY MANNER SOLICITS OR
CONTACTS A HOMEOWNER IN WRITING, IN PERSON, OR THROUGH ANY ELECTRONIC
OR TELECOMMUNICATIONS MEDIUM AND DIRECTLY OR INDIRECTLY MAKES A
REPRESENTATION OR OFFER TO PERFORM ANY SERVICE THAT THE PERSON
REPRESENTS WILL:
(I) STOP, ENJOIN, DELAY, VOID, SET ASIDE, ANNUL, STAY, OR
POSTPONE A FORECLOSURE SALE;
(II) OBTAIN FORBEARANCE FROM ANY SERVICER, BENEFICIARY OR
MORTGAGEE;
(III) ASSIST THE HOMEOWNER TO EXERCISE A RIGHT OF
REINSTATEMENT PROVIDED IN THE LOAN DOCUMENTS OR TO REFINANCE A LOAN
THAT IS IN FORECLOSURE AND FOR WHICH NOTICE OF FORECLOSURE PROCEEDINGS
HAS BEEN PUBLISHED;
(IV) OBTAIN AN EXTENSION OF THE PERIOD WITHIN WHICH THE
HOMEOWNER MAY REINSTATE THE HOMEOWNER'S OBLIGATION OR EXTEND THE
DEADLINE TO OBJECT TO A RATIFICATION;
(V) OBTAIN A WAIVER OF AN ACCELERATION CLAUSE CONTAINED
IN ANY PROMISSORY NOTE OR CONTRACT SECURED BY A MORTGAGE ON A
RESIDENCE IN FORECLOSURE OR CONTAINED IN THE MORTGAGE;
(VI) ASSIST THE HOMEOWNER TO OBTAIN A LOAN OR ADVANCE OF
FUNDS;
- 2990 -
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