AZ HB2554

Establishes regulatory framework for foreclosure consultants in Arizona by defining prohibited practices, contract requirements, and enforcement mechanisms in Title 44, Chapter 9, Article 22.

Prohibits foreclosure consultants from charging fees until services are fully performed, taking liens or wage assignments as security, acquiring interests in foreclosed properties, or accepting powers of attorney from homeowners.

Requires written foreclosure consulting contracts provided 24 hours before signing, printed in at least 12-point type, personally signed by homeowner and consultant, notarized, and containing full disclosure of services and compensation.

Grants homeowners right to cancel contracts within three business days of signing and requires consultants to repay all monies within 60 days of cancellation notice.

Establishes enforcement through homeowner civil actions for damages plus attorney fees, punitive damages of at least 1.5 times actual damages, class 1 misdemeanor for fraud/deceit, and attorney general enforcement as unlawful practice under consumer protection laws.