This text of Iowa § 714E.2 (Foreclosure consultant contract) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1. A foreclosure consultant contract must be in writing and must fully disclose the
3 FORECLOSURE CONSULTANTS, §714E.3
exact nature of the foreclosure consultant’s services and the total amount and terms of
compensation.
2. The following notice, printed in at least fourteen point boldface type and completed
with the name of the foreclosure consultant, must be printed immediately above the notice
of cancellation statement required pursuant to section 714E.3:
NOTICE REQUIRED BY IOWA LAW
................................ (name) or anyone working for
................................ (name) CANNOT:
(1)Take any money from you or ask you for money until
........................ (name) has completely finished doing everything
........................ (name) said ........................ (name) wou
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1. A foreclosure consultant contract must be in writing and must fully disclose the
3 FORECLOSURE CONSULTANTS, §714E.3
exact nature of the foreclosure consultant’s services and the total amount and terms of
compensation.
2. The following notice, printed in at least fourteen point boldface type and completed
with the name of the foreclosure consultant, must be printed immediately above the notice
of cancellation statement required pursuant to section 714E.3:
NOTICE REQUIRED BY IOWA LAW
................................ (name) or anyone working for
................................ (name) CANNOT:
(1) Take any money from you or ask you for money until
........................ (name) has completely finished doing everything
........................ (name) said ........................ (name) would do; and
(2) Ask you to sign or have you sign any lien, mortgage, or real
estate contract.
3. The contract must be written in the same language as principally used by the
foreclosure consultant to describe the foreclosure consultant’s services and to negotiate
the contract with the consumer. The contract must be dated and signed by the owner, and
must contain in immediate proximity to the space reserved in the contract for the owner’s
signature, a conspicuous statement in a size equal to at least ten point boldface type, as
follows:
You, the owner, may cancel this transaction at any time prior to
midnight of the third business day after the date of this transaction.
See the attached notice of cancellation form for an explanation of
this right.
4. The foreclosure consultant shall provide the owner immediately upon execution of the
contract with a copy of the contract along with the notice of cancellation required in section
714E.3.
5. Thethreebusinessdaysduringwhichtheownermaycancelthecontractshallnotbegin
torununtiltheforeclosureconsultanthascompliedwiththissectionandwithsection714E.3.