Skip to Content

Get Your FREE Consultation

Blog

Legislation Outlawing Foreclosure Rescue Scams To Become North Carolina Law

September 2, 2010

North Carolina Governor Beverly Perdue signed into law the Homeowner and Homebuyer Protection Act. The Act is intended to provide important protections to those at risk of losing their homes to foreclosure. Such distressed homeowners are too often victimized by foreclosure rescue scams. The Act provides that it is unlawful for any party to carry out a foreclosure rescue transaction for financial gain unless at least 50% of the fair market value of the property, as determined by a licensed appraiser, is paid by the transferee to the transferor. This prohibition applies to all financial rescue transactions other than certain exempt transactions such as those involving a member of the homeowner’s immediate family, a governmental agency or organization, or a bank or lender. The new law is codified as Article 6 of Chapter 75 of the North Carolina General Statutes. A copy of the Act is attached hereto. A violation of the Homeowner and Homebuyer Protection Act would be deemed an unfair trade practice, entitling a person victimized by a foreclosure rescue scam to treble damages.

TALK TO US NOW
FOR FREE
No Win, No Fee

Review Us

Martin & Jones, PLLC logo

“We would like to express our gratitude to you (Hunt Willis) for accepting our case. First of all, when I called this law firm, a very sweet and kind lady answered the telephone and gave me assurance by asking and going over the accident with me, while my husband was in the hospital. I felt assured I was doing the right thing for us. She was so helpful in so many ways. What a professional lady. Secondly, we are much pleased that you have settled this case with the insurance company to receive the proper amount to assist us in so many ways. My husband and I are very happy with you and the firm in handling our case. You made us have confidence in your professional and integrity along with your assistant Ms. Routh, when you both came to see us in our home, in which we saw your compassion and thoughtfulness at that time. We will never forget what you have done for us, and we thank the lord for directing me to contact this firm. I’m glad I did.” 

Contact Our North Carolina Personal Injury Law Firm

for a Consultation for Your Accident or Medical Malpractice Claim

Call us at 800-662-1234
TALK TO US NOW
FOR FREE
No Win, No Fee

The law firm you choose makes a difference. If you are the victim of an accident or an illness that someone else caused, the North Carolina personal injury law firm of Martin & Jones has the depth of experience, skills and sensitivity to make your road to recovery as smooth as possible. Whether you have experience with the legal system or have never hired a medical malpractice or personal injury lawyer before, our attorneys and staff will do our best to answer your questions, provide clear advice and prepare you and your family for what to expect. If you would like more information or to meet with one of our attorneys, please fill out the form below or call us at 800.662.1234.