Maryland Real Property Section 7-307

Article - Real Property

§ 7-307.

      A foreclosure consultant may not:

            (1)      Claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed each and every service the foreclosure consultant contracted to perform or represented that the foreclosure consultant would perform;

            (2)      Claim, demand, charge, collect, or receive any interest or any other compensation for any loan that the foreclosure consultant makes to the homeowner that exceeds 8% a year;

            (3)      Take any wage assignment, any lien of any type on real or personal property, or other security to secure the payment of compensation;

            (4)      Receive any consideration from any third party in connection with foreclosure consulting services provided to a homeowner unless the consideration is first fully disclosed in writing to the homeowner;

            (5)      Acquire any interest, directly or indirectly, or by means of a subsidiary, affiliate, or corporation in which the foreclosure consultant or a member of the foreclosure consultant's immediate family is a primary stockholder, in a residence in foreclosure from a homeowner with whom the foreclosure consultant has contracted;

            (6)      Take any power of attorney from a homeowner for any purpose, except to inspect documents as provided by law; or

            (7)      Induce or attempt to induce any homeowner to enter into a foreclosure consulting contract that does not comply in all respects with this subtitle.



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.