California Stops Foreclosures of America

This company solicits homeowners who are in foreclosure by offering to assist them by purchasing their home.

Complaints concerning similar offers allege that these companies misrepresent their ability to stop foreclosure, fail to perform services as promised, and generally deny requests for refunds based on non-performance.

California Law requires that any person who solicits, induces, or causes a California resident property owner to contract with, or pay any consideration to a foreclosure consultant must have a bond from a surety in an amount equal to at least twice the fair market value of the real property that is the subject of the contract. In addition, the representative must hold a valid California Real Estate sales license. The representative must provide the consumer, in writing, under penalty of perjury, that they are properly licensed and bonded. Failure to comply with these requirements renders the contract void. By law, the contract must also provide for a three-day cancellation right and no monies must be paid prior to performing all the services set forth in the contract.

If your written contract does not inform you of your right to a refund or to cancel, you may demand your refund or cancel your contract at any time, without regard to these time limits.

Despite the law’s protections, if you are not dealing with a reputable company, you may find it difficult to enforce yo