Media Advisory - Attorney General John Suthers To Announce Key Legislation To Fight Mortgage And Foreclosure Fraud

WHEN:    Monday, January 8, 2007 at 9:30 AM
WHERE:   Office of the Attorney General
1525 Sherman Street, 6th Floor
Denver, CO 80203
    *please check in prior to the conference on the 7th floor.

In July 2005, General Suthers formed a Mortgage and Foreclosure Task Force to identify ways to prevent Coloradoans from falling victim to this growing wave of consumer fraud. Their recommendations subsequently led to SB-71, signed by Gov. Owens last May, which requires that all transactions between homeowners and foreclosure consultants or equity purchasers be in writing, prohibits consultants who provide advice or assistance from acquiring any interest in the homeowner’s property, and calls for a three-day “cooling off” period.

Monday’s announcement is General Suthers’ next step in fighting mortgage and foreclosure fraud, a priority for him since taking office.


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