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ROBERT L. EHRLICH, JR., Governor
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Ch. 509
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(VII) AVOID OR AMELIORATE THE IMPAIRMENT OF THE
HOMEOWNER'S CREDIT RESULTING FROM THE FILING OF AN ORDER TO DOCKET OR
A PETITION TO FORECLOSE OR THE CONDUCT OF A FORECLOSURE SALE;
(VIII) SAVE THE HOMEOWNER'S RESIDENCE FROM FORECLOSURE;
(IX) PURCHASE OR OBTAIN AN OPTION TO PURCHASE THE
HOMEOWNER'S RESIDENCE WITHIN 20 DAYS OF AN ADVERTISED OR DOCKETED
FORECLOSURE SALE;
(X) ARRANGE FOR THE HOMEOWNER TO BECOME A LESSEE OR
RENTER ENTITLED TO CONTINUE TO RESIDE IN THE HOMEOWNER'S RESIDENCE;
(XI) ARRANGE FOR THE HOMEOWNER TO HAVE AN OPTION TO
REPURCHASE THE HOMEOWNER'S RESIDENCE; OR
(XII) ENGAGE IN ANY DOCUMENTATION, GRANT, CONVEYANCE,
SALE, LEASE, TRUST, OR GIFT BY WHICH THE HOMEOWNER CLOGS THE
HOMEOWNER'S EQUITY OF REDEMPTION IN THE HOMEOWNER'S RESIDENCE; OR
(2) SYSTEMATICALLY CONTACTS OWNERS OF PROPERTY THAT COURT
RECORDS OR NEWSPAPER ADVERTISEMENTS SHOW ARE IN FORECLOSURE OR IN
DANGER OF FORECLOSURE.
(D) (C) "FORECLOSURE CONSULTING CONTRACT" MEANS A WRITTEN, ORAL,
OR EQUITABLE AGREEMENT BETWEEN A FORECLOSURE CONSULTANT AND A
HOMEOWNER FOR THE PROVISION OF ANY FORECLOSURE CONSULTING SERVICE OR
FORECLOSURE RECONVEYANCE.
(E) (D) "FORECLOSURE CONSULTING SERVICE" INCLUDES:
(1) DEBT, BUDGET, OR FINANCIAL COUNSELING OF ANY TYPE;
(2) (1) RECEIVING MONEY FOR THE PURPOSE OF DISTRIBUTING IT TO
CREDITORS IN PAYMENT OR PARTIAL PAYMENT OF ANY OBLIGATION SECURED BY A
LIEN ON A RESIDENCE IN FORECLOSURE;
(3) (2) CONTACTING CREDITORS ON BEHALF OF A HOMEOWNER;
(4) (3) ARRANGING OR ATTEMPTING TO ARRANGE FOR AN EXTENSION
OF THE PERIOD WITHIN WHICH A HOMEOWNER MAY CURE THE HOMEOWNER'S
DEFAULT AND REINSTATE THE HOMEOWNER'S OBLIGATION;
(5) (4) ARRANGING OR ATTEMPTING TO ARRANGE FOR ANY DELAY OR
POSTPONEMENT OF THE SALE OF A RESIDENCE IN FORECLOSURE;
(6) ADVISING THE FILING OF ANY DOCUMENT OR ASSISTING IN ANY
MANNER IN THE PREPARATION OF ANY DOCUMENT FOR FILING WITH A
BANKRUPTCY COURT OR IN A STATE COURT;
(7) GIVING ANY ADVICE, EXPLANATION, OR INSTRUCTION TO A
HOMEOWNER THAT IN ANY MANNER RELATES TO THE CURE OF A DEFAULT IN OR
THE REINSTATEMENT OF AN OBLIGATION SECURED BY A LIEN ON THE RESIDENCE
- 2991 -
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