Arizona Governor Calls For Foreclosure Rescue Regulation

The Arizona Republic reports on Arizona governor Janet Napolitano's recent State of the State address. Buried among the legislative proposals urged during her speech was the passage of an Arizona Home Equity Theft Protection Act, which would regulate foreclosure rescue operators. For the story, see Gov. focuses on schools, health care in State of State.

Go here for the text of her speech (courtesy of the Tucson Citizen), in which, among other things, she tells the legislature:

• [Y]ou need to pass the Arizona Home Equity Theft Protection Act, to license "equity purchasers." There are some in this category who prey on vulnerable homeowners and use deceptive practices to cheat them out of their homes. Let's pass the bill and put the bad guys out of work.