Bill seeks to deter mortgage scammers
Legislative briefs
From Register staff and news services
March 25, 2008
Scammers that target families who face mortgage foreclosure in Iowa would face roadblocks under a legislative proposal that was approved Monday by the Iowa House.
Foreclosure consultants are people who, for a fee, offer to stop, postpone or in some way help families who face losing their homes. The problem is that, in some cases, scammers charge unreasonable fees.House File 2653 would set limits on consultants and would forbid them from accepting pay until after all services are performed.
The bill passed the House unanimously. It now goes to the Senate.
Abridged
SOURCE: desmoinesregister
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