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2005 LAWS OF MARYLAND
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Ch. 509
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SPENT ON YOUR BEHALF AS A RESULT OF THIS AGREEMENT, ALONG WITH
INTEREST CALCULATED AT THE RATE OF 8% A YEAR.
THIS IS AN IMPORTANT LEGAL CONTRACT AND COULD RESULT IN THE LOSS OF
YOUR HOME. CONTACT AN ATTORNEY BEFORE SIGNING.".
(C) (1) IF A FORECLOSURE RECONVEYANCE IS INCLUDED IN A
FORECLOSURE CONSULTING CONTRACT OR ARRANGED AFTER THE EXECUTION OF A
FORECLOSURE CONSULTING CONTRACT, THE FORECLOSURE PURCHASER SHALL
PROVIDE THE HOMEOWNER WITH A DOCUMENT ENTITLED "NOTICE OF RIGHT TO
CANCEL TRANSFER OF DEED OR TITLE".
(2) THE NOTICE OF RIGHT TO CANCEL TRANSFER OF DEED OR TITLE
SHALL:
(I) BE A SEPARATE DOCUMENT AND NOT PRINTED ON THE BACK
OF ANY OTHER DOCUMENT; AND
(II) CONTAIN THE FOLLOWING STATEMENT PRINTED IN AT LEAST
14 POINT TYPE:
"NOTICE OF RIGHT TO CANCEL TRANSFER OF DEED OR TITLE
(DATE)
YOU MAY CANCEL OR RESCIND THE TRANSFER OF OWNERSHIP OF YOUR
PROPERTY THROUGH THE TRANSFER OF A DEED OR TITLE WITHIN 10 3
BUSINESS DAYS AFTER THE DATE YOU SIGN THIS DOCUMENT.
TO RESCIND THIS TRANSACTION, MAIL OR DELIVER A SIGNED AND DATED COPY
OF THIS NOTICE, OR ANY OTHER WRITTEN NOTICE EXPRESSING A SIMILAR
INTENT TO (NAME OF FORECLOSURE CONSULTANT) AT (ADDRESS OF
FORECLOSURE CONSULTANT, INCLUDING FACSIMILE AND ELECTRONIC MAIL).
AS PART OF ANY RESCISSION, YOU (THE HOMEOWNER) MUST REPAY ANY
MONEY SPENT ON YOUR BEHALF AS A RESULT OF THIS AGREEMENT, WITHIN 60
DAYS, ALONG WITH INTEREST CALCULATED AT THE RATE OF 8% A YEAR.
THIS IS AN IMPORTANT LEGAL CONTRACT AND COULD RESULT IN THE LOSS OF
YOUR HOME. CONTACT AN ATTORNEY BEFORE SIGNING.
NOTICE OF RESCISSION
TO: (NAME OF FORECLOSURE CONSULTANT)
(ADDRESS OF FORECLOSURE CONSULTANT, INCLUDING FACSIMILE AND
ELECTRONIC MAIL)
I HEREBY RESCIND THE TRANSFER OF DEED OR TITLE TO MY PROPERTY.
PLEASE RETURN ALL EXECUTED DOCUMENTS TO ME.
..................(DATE)
.............................(HOMEOWNER'S SIGNATURE)".
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- 3000 -
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