"Foreclosure consultant" means a person who, directly or indirectly, makes a solicitation, a representation, or an offer to a homeowner to perform, with or without compensation, any service that the person represents will:

1. (1) prevent or postpone the initiation of a foreclosure proceeding, or reverse the effect of a foreclosure proceeding;
2. (2) allow the homeowner to become a lessee or renter in the homeowner's residence during or after a foreclosure proceeding; or

3. (3) allow the homeowner to have an option to repurchase the homeowner's residence after a foreclosure proceeding.

   [Pre-2026 Revision Citation: 24-5.5-2-2.]

As added by P.L.115-2026, SEC.97.