DE HB59

Establishes an Office of Foreclosure Prevention and Financial Education within the Division of Consumer Protection under the Attorney General's direction.

Office will develop and implement public education programs on foreclosure prevention and financial literacy, and identify mortgage foreclosure fraud and deceptive practices.

Establishes a toll-free telephone number for homeowners at risk of default to receive complaints, referrals, and intervention services.

Office will facilitate mediation between borrowers and lenders, coordinate with HUD-approved housing counseling agencies, legal aid providers, and non-profit consumer advocates.

Office will operate for three years from its effective date, with staff including one Foreclosure Outreach Coordinator and two administrative specialists.