Delaware Code Title 6. Commerce and Trade § 2415B. Prohibited acts
Current as of January 01, 2022 | Updated by FindLaw Staff
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(a) 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% per year;
(3) Take any wage assignment, any lien, or any type of 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 related person, in a residence in default from a homeowner with whom the foreclosure consultant has contracted;
(6) Take any power of attorney from a homeowner to enter into a foreclosure consulting contract that does not comply in all respects with this subchapter; or
(7) Facilitate or engage in any transaction that is unconscionable under the terms and circumstances of the transaction.
(b) No person may engage in any of the activities identified in § 2402B(1) or (3) of this title if such activities are prohibited by § 910 of Title 11.
(c) No person may engage in any of the activities identified in § 2402B(1) or (3) of this title for which registration is required under Chapter 24 of this title, unless such person has registered and fulfilled all other applicable requirement of that chapter.
Cite this article: FindLaw.com - Delaware Code Title 6. Commerce and Trade § 2415B. Prohibited acts - last updated January 01, 2022 | https://codes.findlaw.com/de/title-6-commerce-and-trade/de-code-sect-6-2415b/
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