New Jersey Bill S-2699 Regulating Foreclosure Rescue To Be Considered

Buried at the bottom of an article on PoliticsNJ.com is a reference to proposed New Jersey Senate Bill S2699, the Foreclosure Consulting and Anti-Fraud Act, which deals with the regulation of foreclosure rescue activities and which apparently says, among other things, "that only licensed, non-profit debt adjusters can provide foreclosure consulting services in New Jersey." According to the bill's sponsor:

• "Right now, we've got rogue operators advertising on telephone poles with empty promises to help debt-ridden families save their homes from foreclosure. [...] Unfortunately, these scam artists are taking advantages of families in crises and we've got to put a stop to it fast."

Go here for more on the regulation of foreclosure consultants in NJ.

Editor's Note

The New Jersey Assembly also has a bill it is considering, Assembly Bill A4214, the Foreclosure Rescue Fraud Prevention Act regarding the regulation of foreclosure rescue activities.