On April 4th, 2008 the state of Maryland enacted some new legislation for the Maryland Foreclosure Process.
- Under the new law your lender must send you notice of Intent to Foreclose 45 days before filling with Court.
- This can not be filed unless you are 90 days after you have defaulted on a loan.
- You must be personally served with court papers in person, posting them on your property, or mailing them certified letter.
- The lender has to wait at least 45 days upon serving notice to sell your home at auction.
- Notice must be published in a newspaper 3x before sale.
- you have up until 1 business before the auction to pay all overdue fees, back payments to stop the foreclosure.
Please be cautious of anyone contacting you about signing over your deed, liquiditing equity or coming in person to your home on behalf of the lender. You can learn more about this process at www.mdhope.org for assistance or call 1-877-462-7555. If you believe some is acting fraudulently contact 1-888-784-0136.
If foreclosure is unavoidable contact an agent who can assit you in a possible solution.