This law regulates foreclosure consultants by prohibiting them from charging fees until they have completed the contracted services. It also requires them to obtain a surety bond or maintain a surety account for each business location, ensuring consumer protection in foreclosure transactions.
Prohibits upfront fees for foreclosure consultants until services are completed.
Requires a surety bond or account for each business location.
Aims to protect consumers from fraudulent foreclosure practices.
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In simple terms: Learn about Texas's RESTRICTIONS ON CHARGE OR RECEIPT OF law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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