Mortgage Foreclosure Rescue and Loan Modification Services Fraud Prevention Act of 2009

Summary

Mortgage Foreclosure Rescue and Loan Modification Services Fraud Prevention Act of 2009 - Directs the Federal Trade Commission (FTC) to conduct a rulemaking proceeding with respect to mortgage foreclosure rescue and loan modification services. Directs the FTC to include in the rule, among other things, requirements that: (1) any residential real property mortgage foreclosure rescue or loan modification service provided to a homeowner contain a written contract meeting specified criteria; (2) any such contract contain a clearly and prominently disclosed right for the homeowner to cancel within a set number of business days with no penalty or obligation; and (3) prohibits or restricts mortgage foreclosure rescue and loan modification services from requesting or receiving any funds until any such services have been fully performed, results have been achieved, and both have been documented to the consumer.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 June 2009

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• Introduced in House (PDF)

  Introduced in House · EN · 2 June 2009

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• Introduced in House

  summary · EN · 2 June 2009

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