News Release - Attorney General McCollum Commends Legislature for Passage of Mortgage Fraud Legislation

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Attorney General Bill McCollum News Release

May 1, 2008

Media Contact: Sandi Copes
Phone: (850) 245-0150

Attorney General McCollum Commends Legislature for Passage of Mortgage Fraud Legislation

~ HB 643 gives additional protection to homeowners at risk of being victimized by foreclosure rescue scams~

TALLAHASSEE, FL – Attorney General Bill McCollum today applauded members of the Florida Legislature for passing the Foreclosure Rescue Fraud Prevention Act of 2008, which will ensure that, among other things, homeowners are properly informed about their rights when they are signing a contract with a foreclosure rescue entity. The legislation was sponsored by Senator Mike Fasano (R- New Port Richey) and Representative Clay Ford (R-Pensacola) and was a priority of the Attorney General.

“Home ownership is the epitome of the American dream, and I appreciate the commitment Florida’s lawmakers have shown toward helping Floridians protect their homes through this legislation,” said Attorney General McCollum. “Once signed, I believe this law will provide valuable recourse for our citizens in potentially desperate situations.”

Among other provisions, the legislation will provide consumers with a three-day right of cancellation period with foreclosure rescue companies and permits enhanced remedies for consumers under Chapter 501, Florida Statutes. More information is available online at: http://myfloridalegal.com/newsrel.nsf/newsreleases/705D7BA54B5A9958852573D800637C1A.