- effective date
- payment for services provided before cancellation or breach
- sufficiency of notice
(1)In addition to any other cancellation or rescission right, a homeowner may cancel a foreclosure consulting contract as provided under this section at any time.
(2)Cancellation under this section occurs when the homeowner gives written notice of cancellation to the foreclosure consultant:
(a)At a physical address specified in the foreclosure consulting contract; or
(b)At a facsimile number or electronic mail address specified in the foreclosure consulting contract.
(3)Intentionally left blank —Ed.
(a)If the homeowner gives written notice of cancellation under this section by mail, the notice is effective when deposited in the United States mail with the proper address and postage.
(b)If the homeowner gives written notice of cancellation under this section by facsimile or electronic mail, the notice is effective upon receipt. Proof of a transmission by the homeowner to the facsimile number or electronic mail address specified in the foreclosure consulting contract creates a rebuttable presumption that the foreclosure consultant received the notice at the time of the transmission.
(4)A homeowner who cancels or breaches a foreclosure consulting contract under this section shall, no later than 60 days after the cancellation or breach, pay for any services performed in good faith under the contract by or on behalf of the foreclosure consultant prior to the cancellation or breach and repay any moneys paid or advanced under the contract by or on behalf of the foreclosure consultant. The homeowner shall also pay any interest allowed by the foreclosure consulting contract, not to exceed nine percent per year.
(5)Failure of the homeowner to repay moneys as provided in subsection (4) of this section does not invalidate the cancellation of the foreclosure consulting contract.
(6)When both parties have signed the foreclosure consulting contract, the foreclosure consultant shall immediately provide the homeowner with a signed and dated copy of the contract and a cancellation form. The cancellation form must:
(a)Be in duplicate;
(b)Be on a separate sheet of paper attached to the foreclosure consulting contract;
(c)Be easily detachable; and
(d)Contain a statement in substantially the following form and printed in at least 14-point boldfaced type:
(7)A written notice of cancellation under this section is sufficient, however expressed, if the notice indicates the intent of the homeowner to cancel the foreclosure consulting contract. The contract may not require the homeowner to use the notice of cancellation form set forth in subsection (6) of this section. [2008 c.19 §5]
Section 646A.715 — Cancellation; effective date; payment for services provided before cancellation or breach; form; sufficiency of notice,