California Foreclosure Consultant Bond Guide
If you’re applying for a foreclosure consultant registration in California, you’ll likely need this surety bond.
Bond Overview
- Purpose: To protect homeowners from damages if a foreclosure consultant violates licensing laws
- Who Needs It: All foreclosure consultants registered in California
- Regulating Body: The California Secretary of State, Special Filings Unit
- Required Coverage: $100,000
- Premium Rate: 1–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a California Foreclosure Consultant Bond?
A California foreclosure consultant bond is a form of financial security required as part of the consultant registration process.
If a homeowner is harmed by a foreclosure consultant’s violation of state laws or regulations, the bond can reimburse those damages.
How Much Do Foreclosure Consultant Bonds Cost?
California foreclosure consultant bonds cost a small percentage of the $100,000 coverage amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Foreclosure Consultant Bond?
The California Secretary of State (SoS), Special Filings Unit requires this bond as part of the registration process for all non-exempt foreclosure consultants in the state.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a California foreclosure consultant bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file it with the SoS as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a California Foreclosure Consultant Bond Work?
A foreclosure consultant bond creates a legal contract between these three parties:
- Principal: You, the foreclosure consultant filing the bond
- Obligee: The California Secretary of State, Special Filings Unit requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding all applicable provisions of the Business Professionals Code.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your foreclosure consultant bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
