A person who acquires title or possession of a deed or other document to a residence in foreclosure. In states where foreclosure purchasing and consulting are regulated a Foreclosure Purchaser cannot:

• Market directly to homeowners in pre-foreclosure.
• Have initial contact homeowners to discuss options.
• Negotiate directly with mortgage companies and law firms on behalf of the property owner.
• Induce the homeowner to sign documentation that waives their rights regarding the transfer of ownership of their property.

In states where foreclosure consulting andpurchasing are regulated a Foreclosure Consultant and a Foreclosure Purchaser are two separate entities. One person or entity cannot be both.