Foreclosure is not uncommon in Maryland, but if you are facing it yourself, you may feel frightened and powerless. While there are many situations that may lead to financial instability and missed mortgage payments, there are also several actions you may take that could help you stay in your home. If you realize that you may not be able to continue making mortgage payments, taking a proactive stance may help you avoid the stress and pain of foreclosure. 

The USA.gov website provides several tips and suggestions for handling and/or preventing foreclosure. According to the site, one thing you may try is communicating directly with your lender. In some cases, you may be able to explain your financial circumstances to the lender and negotiate a plan that allows you to remain in your home. Some lenders may have resources and programs for borrowers with financial hardships. Contacting your lender as soon as you know you could have trouble paying your mortgage may provide enough time for you to work out an agreement. 

You may be able to qualify for government assistance through your state’s housing authority or the Making Home Affordable program. Government foreclosure avoidance programs may provide you with resources, advice and access to counselors. While there are several legitimate programs designed to assist people in avoiding foreclosure, there are numerous scams as well. The USA.gov site states that common scams include people or organizations that offer to help you negotiate with your lender or preemptively file for bankruptcy. Many scammers charge fees for their services or use fake documentation to gain personal information and commit fraud. 

This information on foreclosure prevention is intended to educate and should not be interpreted as legal advice.