§ 479-B:2 — Foreclosure Consulting Contracts

I. A foreclosure consultant shall not enter into any agreement or provide any services on behalf of a homeowner until the homeowner has executed a foreclosure consulting contract. A foreclosure consulting contract shall:
(a) Be provided to the homeowner for review before signing;
(b) Be written in the same language that is spoken by the homeowner if the homeowner is unable to adequately understand or to express himself or herself in the spoken or written English language;
(c) Fully disclose the exact nature of the foreclosure consulting services to be provided, including any pre-foreclosure conveyance that may be involved, and the total amount and terms of any compensation to be received by the foreclosure consultant or any other person involved in the transaction; and
(d) Be dated and personally signed by the homeowner and the foreclosure consultant and be witnessed and acknowledged by a notary public or justice of the peace appointed and commissioned by the state of New Hampshire.
II. The contract shall contain on the first page:
(a) The name, mailing address, physical address, electronic address, and facsimile number of the foreclosure consultant to which the notice of cancellation is to be mailed; and
(b) The date the homeowner signed the contract.
III. The contract shall be accompanied by a "notice of cancellation," which must be attached to the contract, be easily detachable, and explain the homeowner's right to cancel the contract and how to exercise that right. Each homeowner shall be given 2 copies of the completed notice of cancellation.
IV. The foreclosure consultant shall provide the homeowner with a signed and dated copy of the contract and the attached notice of cancellation immediately upon execution of the contract.
V. Any provision in a foreclosure consulting contract that attempts or purports to waive any of the rights specified in this chapter are void.

Legislative History

2007, 322:1, eff. July 16, 2007.