Nebraska Lawmakers Pass Foreclosure Rescue Statute; Bill Awaits Governor's Signature

In Lincoln, Nebraska, the LaVista Sun reports:

• A legislative bill approved Tuesday would give Nebraskans protections against companies offering to rescue them from home foreclosures. Legislative Bill 123, which passed 47-0, would prevent foreclosure consultants and equity purchasers from pressuring distressed homeowners to sign over their ownership interest. [...] The measure addresses foreclosure consultants who charge a fee to advise borrowers or to act as intermediaries with lenders, and equity purchasers, who purchase home equity to help homeowners avoid foreclosure. Violations of the bill could be prosecuted as felonies.

The bill has been delivered to Nebraska Governor Dave Heineman's office for his approval. For more, see Legislators OK foreclosure bill.

Go here to view the newly-passed statute, the Nebraska Foreclosure Protection Act.