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Working together to prevent loan modification and foreclosure scams.
California Foreclosure Prevention Act
The provisions of the California Foreclosure Prevention Act sunset January 1, 2011.
For licensees that file a Notice of Default before the sunset date of the CFPA (January 1, 2011), and proceed with the Notice of Sale on or after the sunset date, the CFPA is no longer operative and therefore the Department will find a licensee in compliance with the law if the Notice of Sale occurs three or more months after the Notice of Default (see Civil Code Section 2924(a)(2)).
- Existing Regulations
- Application for Exemption
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Applications will be accepted on or after June 15, 2009
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Below is the application to apply for an order of exemption from Section 2923.52 of the California Foreclosure Prevention Act (California Civil Code Section 2923.52 et seq.). Applicants licensed by the Department of Real Estate under the Real Estate Law can submit their completed applications to the Department of Real Estate at the following address:
Foreclosure Exemptions - Department of Real Estate
P.O. Box 187007
Sacramento, CA 95818-7007
Completed applications may also be submitted by electronic mail to foreclosures@dre.ca.gov.
Important Information: California Foreclosure Consultant Registry
Effective July 1, 2009, it will be unlawful for a foreclosure consultant, as defined in Civil Code Section 2945.1 to engage in the foreclosure consultant business unless it has registered with the Attorney General’s Office at: http://www.ag.ca.gov/register.php. All foreclosure consultants operating in California must post a $100,000 bond and register with Attorney General’s Office by July 1, 2009 and submit the following information:
- Name, address, and telephone number;
- All names, addresses, telephone numbers, websites, and e-mail addresses used or proposed to be used in connection with their business;
- Copies of all advertising;
- Copies of each different contract the consultant will use with consumers; and
- A copy of its $100,000 bond
For more information please visit: http://ag.ca.gov/consumers/general/foreclosure_reg.php.
