MARYLAND FORECLOSURE PREVENTION
Stop Maryland Foreclosure!!! Maryland Floreclosure Help !!!
If you are facing a Maryland foreclosure, call me immediately. I can provide defenses that can stop the foreclosure sale and buy you valuable time to negotiate a workout with your lender, get back on your feet, or make other arrangements. If no defenses are available, I can still negotiate with your lender and try to save your house and reduce your payments. This process of "loan modification" can save you tens of thousands of dollars while at the same time letting you keep your home! If all else fails, I can also assist you with Bankruptcy protection, which allows you to save your house and lets you pay back your loan arrearage over a period of years, rather than having to pay the whole arrearage immediately to stop the foreclosure sale.
If your other debts are becoming overwhelming, I can help you get relief. We can sit down and discuss your financial situation and make a plan to get you back on track. I can negotiate with your creditors for "short payoffs" and reduced payments that can save you big. I can also assist you with Bankruptcy protection if all else fails and you need to start over.
NOW OPEN: LAW OFFICE OF J. SCOTT MORSE, LLC FORECLOSURE PREVENTION UNIT
CALL ME TODAY TO PROTECT YOUR HOME, YOUR FAMILY, YOUR FUTURE !!!
EMERGENCY UPDATE: THE NEW MARYLAND FORECLOSURE PROCESS
A new foreclosure law went into effect in Maryland on April 4, 2008, and any foreclosure action against residential property filed after that date must comply with the new law. Here is an outline of the new process:
- Before the Maryland foreclosure is filed, many mortgages require the lender to give notice of the default and of the right to remedy the default within 30 days. This is often called an "acceleration letter."
- Before the lender can file a foreclosure case, the lender must:
1. Send you an acceleration letter (if required by the mortgage);
2. Wait 90 days from the date that your loan is in default; and
3. Send you a Notice of Intent to Foreclose 45 days before the foreclosure is filed
- To begin a Maryland foreclosure case, the lender must file the following documents:
1. Statement of debt which itemizes the entire amount claimed due under the loan;
2. Certification that the property owner is not a member of the military service;
3. Statement that indicates the date of default, the nature of the default and the date
the Notice of Intent to Foreclose was sent;
4. A copy of the Notice of Intent to Foreclose;
5. Original or certified copy of the mortgage or deed of trust;
6. Copy of the debt instrument and an affidavit of ownership;
7. Original or certified copy of the assignment of the mortgage if applicable;
8. The mortgage lender and originator’s license number if applicable; and
9. A uniform Notice regarding the filing of the foreclosure action
- The new law requires that the lender must personally serve you with all the papers filed when the case was docketed with the court. If the lender is unable to serve you after two good faith attempts on two separate days, the lender may file an affidavit with the court describing the attempts made to serve you and the lender may then serve you by sending you a copy of the court papers, by both certified and first class mail AND by posting the court papers on the property.
- Before a Maryland foreclosure sale can be held, the lender must:
1. Wait 45 days from the time the defendant was served;
2. Publish a Notice of Sale for three successive weeks in a newspaper of general
circulation in the county where the action is pending. The first advertisement should
be published not less than 15 days prior to the date of sale and the last
advertisement should be published not more than 7 days prior to the date of sale.
3. Send a notice of the date of sale to the homeowner by certified and first class mail
of the time, place, and terms of the pending foreclosure sale. This notice must be
sent no later than 10 days prior to the scheduled sale date. Failure to receive the
notice or to sign for it will not stop the foreclosure.
- The lender must accept from the homeowner payment of the funds due to cure the default up to one business day before the sale.
IS IT TOO LATE TO PREVENT THE LOSS OF MY PROPERTY?
Not until the hammer falls and the auction sale of the property is complete!
CALL ME IMMEDIATELY!!!
ALL ABOUT MARYLAND TAX SALES
The Process in General
In Maryland, when property taxes or other municipal liens on a property are unpaid each county "sells" the property to the highest bidder and issues a "tax sale certificate." The bidder must pay the back taxes or liens at the time of the sale, along with a "high bid premium" if the bid is above a certin percentage of the assessed value. The high bid premium is deposited with the municipality, does not gain interest, and is credited toward the bid purchase price should the tax sale holder complete a tax sale foreclosure before an interested party makes a redemption of the delinquent taxes. The premium is refunded if a redemption is made.
Forelcosing on the Tax Sale
Recent changes to Maryland's tax sale laws have added further notice requirements to the already very technical tax sale foreclosure process. In general, a tax sale foreclosure cannot be filed until six months after the tax sale auction, and until three months after a special notice is mailed via certified mail to the property owner and mortgage lenders of record. Once the foreclosure is filed it takes 6 months to a year to complete all of the service and notice requirements, obtain a tax sale judgment, and then obtain a deed for the property from the municipality. At any time before judgment, any interested party may make a redemption of the tax sale.
Did You Know?
- If you do not get personal service on all of the Defendants, you may not be able to get insurable title to the property, even though you have a Deed from the municipality. In other words, you own it but you can't sell it.
- If there are any technical mistakes in the case, an interested party could come back years later and strike your judgment and your Deed.
- The tenant or occupant of the property is entitled to notice, even though they do not own the property, and also has a right to redeem the delinquent taxes.
- Maryland law "caps" the maximum amount of attorney fees and costs that a tax sale holder can charge to the property owner upon redemption.
- The municpality often makes mistakes in the tax sale process that could invalidate your tax sale lien, even after you have filed your foreclosure, which means that you have to"eat" all of the court costs, attorney fees, etc., that you have expended, and only get your principal and half of your interest back.
A proper review of your tax sale certificate and proper prosection of your tax sale case by a qualified Maryland attorney could save you from many of these (and other) headaches. Let me handle your tax sale cases and put your worries at ease!
