Housing advocates warn homeowners to beware of groups guaranteeing reductions in their mortgage payments through loan modifications. No one, including non-profit housing counselors, can promise a mortgage modification.
The legislation would allow Arizona prosecutors to charge foreclosure consultants “who engage in conduct that constitutes fraud or deceit against a homeowner” with a Class 1 misdemeanor charge, which comes with a fine of up to $2,500 and a jail sentence of up to six months.
Arizona homeowners can call the state’s foreclosure prevention hotline, 877-448-1211, to receive free help from non-profit housing counselors, who are exempt from this legislation
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