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Indiana Foreclosure Consultant Bonds

What is an Indiana Foreclosure Consultant Bond?

A surety bond is required for Foreclosure Consultants by the Office of the Indiana Attorney General, Consumer Protection Division as mandated by the provisions of IC 24-5-15. The surety bond ensures that the Foreclosure Consultant pays to any entitled person all damages as may be caused to any person together with all penalties provided by IC 24-5-15-9. The bonded foreclosure consultant must also comply with the provisions of the Act. Any person having a cause of action under IC 24-5-15 may seek to be reimbursed by this bond. A similar surety bond is required of Credit Service Organizations operating in the state of Indiana.

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