24-5.5-2-1. Application of Definitions

Sec. 1. The definitions in this chapter apply throughout this article. As added by P.L.209-2007, SEC.2.

24-5.5-2-2. “Foreclosure Consultant”

Sec. 2. “Foreclosure consultant” means a person who, directly or indirectly, makes a solicitation, a representation, or an offer to a homeowner to perform, with or without compensation, any service that the person represents will: (1) prevent or postpone the initiation of a foreclosure proceeding, or reverse the effect of a foreclosure proceeding; (2) allow […]

24-5.5-2-3. “Foreclosure Purchaser”

Sec. 3. “Foreclosure purchaser” means a person who purchases real property in a foreclosure proceeding. As added by P.L.209-2007, SEC.2.

24-5.5-2-4. “Foreclosure Reconveyance”

Sec. 4. “Foreclosure reconveyance” means a transaction involving: (1) the transfer of interest in real property by a homeowner to a person during or incident to a proposed foreclosure proceeding, either by: (A) transfer of interest from the homeowner to the person; or (B) creation of a mortgage, trust, or other lien or encumbrance during […]

24-5.5-2-5. “Formal Settlement”

Sec. 5. “Formal settlement” means a face-to-face meeting with a homeowner to complete final documents incident to the: (1) sale or transfer of real property; or (2) creation of a mortgage or equitable interest in real property; conducted by a person who is not employed by or an affiliate of the foreclosure purchaser. As added […]

24-5.5-2-6. “Homeowner”

Sec. 6. “Homeowner” means a person who holds record title to residential real property as of the date on which: (1) a contract with a foreclosure consultant; or (2) a foreclosure reconveyance agreement; with respect to the residential real property is entered into. As added by P.L.209-2007, SEC.2.