Texas Business and Commerce Code 21.052 – Required Disclosure
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Terms Used In Texas Business and Commerce Code 21.052
- Contract: A legal written agreement that becomes binding when signed.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
Before entering into a contract with a homeowner of a residence in foreclosure for the purchase of the services of a foreclosure consultant, the foreclosure consultant shall provide the homeowner written notice stating the following, in at least 14-point boldfaced type:
NOTICE REQUIRED BY TEXAS LAW