82nd Texas Legislature, Regular Session, Senate Bill 767, Chapter 902 Page: 1 of 9
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Chapter 902 S.B. No. 767
1 AN ACT
2 relating to the regulation of certain residential mortgage
3 foreclosure consulting services; providing a criminal penalty.
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1. Title 2, Business & Commerce Code, is amended by
6 adding Chapter 21. to read as follows:
7 CHAPTER 21. REGULATION OF CERTAIN RESIDENTIAL FORECLOSURE
8 CONSULTING SERVICES
9 SUBCHAPTER A. GENERAL PROVISIONS
10 Sec. 21.001. DEFINITIONS. (a) In this chapter:
11 (1) "Foreclosure consultant" means a person who makes
12 a solicitation, representation, or offer to a homeowner to perform
13 for compensation, or who for compensation performs, a service that
14 the person represents will do any of the following:15 (A) prevent or postpone a foreclosure sale;
16 (B) obtain a forbearance from:
17 (i) a mortgagee;
18 (ii) a beneficiary of a deed of trust; or
19 (iii) another person who holds a lien
20 secured by the residence in foreclosure;
21 (C) assist the homeowner:
22 (i) to cure the default giving rise to the
23 foreclosure action; or
24 (ii) to exercise the right of reinstatement1
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Texas. Legislature. Senate. 82nd Texas Legislature, Regular Session, Senate Bill 767, Chapter 902, legislative document, 2011-04/2011-06; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth312204/m1/1/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.