A foreclosure consultant may not charge a fee that exceeds what percentage per annum of a loan made to the owner?

A foreclosure consultant is regulated to prevent exploitation of homeowners in distress. The law establishes specific financial limits to protect consumers, and in this case, it dictates that a foreclosure consultant cannot charge a fee that exceeds 10% per annum of the loan made to the owner.

This limit is designed to ensure that the fees remain manageable and do not contribute to the financial burden of individuals facing foreclosure. By capping the fee at 10%, the regulation aims to keep these services affordable and accessible, thereby helping homeowners to seek assistance without the fear of incurring exorbitant costs that could worsen their financial situation. This is particularly important given the vulnerable circumstances of homeowners dealing with foreclosure.

The higher percentages provided in other options do not align with the established regulations intended to protect consumers, hence the accuracy of the 10% threshold as the maximum allowable fee for foreclosure consultants.