http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_SN_2888.html?rev=27514 <p>S. 2888 would protect the property and security of homeowners who are subject to foreclosure proceedings.</p> <h2 id="toc0"> Detailed Summary </h2> <p>Foreclosure Rescue Fraud Act of 2008 - Prohibits a foreclosure consultant from: (1) receiving compensation from a homeowner for services performed regarding residential real property until such consultant has fully performed each service contracted for; (2) holding power of attorney from any homeowner, except to inspect documents; (3) receiving consideration from a third party in connection with services rendered to a homeowner by such third party with respect to the foreclosure, unless such consideration is fully disclosed in writing before such services are rendered; (4) accepting any wage assignment, lien, or other security to secure compensation for services rendered regarding foreclosure of the residential real property; or (5) acquiring any interest in the residence of a homeowner with whom the consultant has contracted.</p> <p>Sets forth contract requirements. Permits a homeowner to cancel such contract without penalty or obligation.</p> <p>Declares void and unenforceable: (1) any waiver by a homeowner of the protections provided in this Act; and (2) any contract that does not comply with this Act.</p> <p>Requires a loan servicer to notify a homeowner of the dangers of fraudulent activities associated with foreclosure if the servicer finds that the homeowner has failed to make two consecutive payments on a residential mortgage loan and such loan is at risk of foreclosure.</p> <p>Subjects any foreclosure consultant who fails to comply with this Act to liability for actual and punitive damages and attorneys' fees.</p> <p>Empowers the Federal Trade Commission (FTC) and the states to enforce this Act.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 4/17/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 27514@http://www.washingtonwatch.com Wed, 16 Jul 2008 19:11:41 EDT http://www.washingtonwatch.com/bills/history/110_SN_2888.html?rev=22359 <p>S. 2888 would protect the property and security of homeowners who are subject to foreclosure proceedings.</p> <h2 id="toc4"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>(Log in to edit the wiki and be the first to update the status of the bill!)</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 22359@http://www.washingtonwatch.com Fri, 18 Apr 2008 18:57:01 EDT http://www.washingtonwatch.com/bills/history/110_SN_2888.html?rev=22360 <p>S. 2888 would protect the property and security of homeowners who are subject to foreclosure proceedings.</p> <h2 id="toc8"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc9"> Status of the Legislation </h2> <p>Latest Major Action: 4/17/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc10"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc11"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 22360@http://www.washingtonwatch.com Fri, 18 Apr 2008 18:57:01 EDT