44-1378.04 - Arizona Statutes

44-1378.04. Right of cancellation A. In addition to any right of rescission available under state or federal law, a homeowner has the right to cancel a contract with a foreclosure consultant until midnight of the third business day following the day on which the homeowner signs a contract that complies with this article. B. Cancellation occurs when the homeowner personally gives written notice of cancellation of the foreclosure consulting contract to the foreclosure consultant at the address specified in the contract or through any fax or electronic mail address identified in the contract or other materials provided to the homeowner by the foreclosure consultant. C. Notice of cancellation, if given by mail, is effective on deposit of the notice in the United States mail, properly addressed, with postage prepaid. D. A notice of cancellation given by the homeowner does not need to be in the particular form provided with the contract and, however expressed, is effective if it indicates the intention of the homeowner not to be bound by the contract. E. As part of the cancellation of a foreclosure consulting contract, the homeowner shall repay, within sixty days after the notice of cancellation, all monies paid or advanced in good faith before the receipt of notice of cancellation by the foreclosure consultant under the terms of the foreclosure consulting contract. F. The right to cancel may not be conditioned on the repayment of any monies.