Sec. 1. In addition to any other right under law to cancel or rescind a contract, a homeowner may rescind a: (1) contract with a foreclosure consultant at any time before midnight of the seventh business day after the date the contract is signed; and (2) foreclosure reconveyance agreement at any time before midnight of […]
Sec. 2. A homeowner effectively rescinds a contract with a foreclosure consultant if the homeowner gives written notice of a rescission to the foreclosure consultant by one (1) of the following: (1) Mailing the rescission to the address specified in the contract. (2) Sending the rescission through any facsimile or electronic mail address identified in […]
Sec. 3. (a) If a notice of rescission under this chapter is sent by mail, the rescission is effective three (3) days after the notice is deposited in the U.S. mail, properly addressed, with postage prepaid. (b) A homeowner is not required to give notice of rescission in the form required under the contract if […]
Sec. 4. (a) If a homeowner rescinds a contract with a foreclosure consultant or a foreclosure reconveyance agreement, the homeowner shall, not later than thirty (30) days after the date of rescission, repay any amounts paid or advanced by: (1) the foreclosure consultant or the foreclosure consultant’s agent under the terms of the foreclosure consulting […]
Sec. 5. If a homeowner rescinds a contract with a foreclosure consultant, not less than ten (10) days following the effective date of the rescission, the consultant shall return to the homeowner any payments made by the homeowner, less any amounts for actual services rendered. As added by P.L.209-2007, SEC.2.
