IC 24-5.5-4
    Chapter 4. Rescission of Contracts With Foreclosure Consultantsand Foreclosure Reconveyance Agreements

IC 24-5.5-4-1
Homeowner's right to rescind foreclosure consultant contract andforeclosure reconveyance agreement; timing
    Sec. 1. In addition to any other right under law to cancel orrescind a contract, a homeowner may rescind a:
        (1) contract with a foreclosure consultant at any time beforemidnight of the seventh business day after the date the contractis signed; and
        (2) foreclosure reconveyance agreement at any time beforemidnight of the seventh business day after the homeowner'stransfer of the interest in the real property that is the subject ofthe agreement, as described in IC 24-5.5-2-4(1).
As added by P.L.209-2007, SEC.2.

IC 24-5.5-4-2
Notice of rescission of foreclosure consultant contract
    Sec. 2. A homeowner effectively rescinds a contract with aforeclosure consultant if the homeowner gives written notice of arescission to the foreclosure consultant by one (1) of the following:
        (1) Mailing the rescission to the address specified in thecontract.
        (2) Sending the rescission through any facsimile or electronicmail address identified in the contract or other materialprovided to the homeowner by the foreclosure consultant.
As added by P.L.209-2007, SEC.2.

IC 24-5.5-4-3
Notice sent by mail; time of effectiveness; inconsistent recissionrequirements
    Sec. 3. (a) If a notice of rescission under this chapter is sent bymail, the rescission is effective three (3) days after the notice isdeposited in the U.S. mail, properly addressed, with postage prepaid.
    (b) A homeowner is not required to give notice of rescission in theform required under the contract if the form under the contract isinconsistent with the requirements under this chapter.
As added by P.L.209-2007, SEC.2.

IC 24-5.5-4-4
Homeowner's duty to repay amounts advanced before rescission
    Sec. 4. (a) If a homeowner rescinds a contract with a foreclosureconsultant or a foreclosure reconveyance agreement, the homeownershall, not later than thirty (30) days after the date of rescission, repayany amounts paid or advanced by:
        (1) the foreclosure consultant or the foreclosure consultant'sagent under the terms of the foreclosure consulting contract; or
        (2) a person under a foreclosure reconveyance agreement.    (b) A rescission by a homeowner under this chapter is void if thepayments required under this section are not made within the time setforth in subsection (a).
As added by P.L.209-2007, SEC.2.

IC 24-5.5-4-5
Foreclosure consultant's duty to return payments made byhomeowner
    Sec. 5. If a homeowner rescinds a contract with a foreclosureconsultant, not less than ten (10) days following the effective date ofthe rescission, the consultant shall return to the homeowner anypayments made by the homeowner, less any amounts for actualservices rendered.
As added by P.L.209-2007, SEC.2.