A short sale happens when a homeowner sells their property for less than the amount owed on the mortgage. This process can help in certain situations, but it also has drawbacks. Short sales typically occur when homeowners cannot keep up with their mortgage payments....
Missing a few mortgage payments does not mean you will automatically lose your home, but you should consider steps to get back on track with your mortgage. Fortunately, many lenders understand their clients sometimes run into financial problems and offer forbearance...
Recognizing the signs of a foreclosure scam helps homeowners facing financial difficulties and potential foreclosure proceedings. Scammers often prey on vulnerable individuals. They may do so by offering false promises of foreclosure prevention or relief in exchange...
Sometimes, you need help keeping up with your home loan payments. The good news is that you have available legal options to find a solution that fits your financial situation. Loan modification Renegotiating our existing home loan can make it more manageable. This...
Owning a home is a significant achievement, but you risk losing your residence if you experience financial difficulties. The state of Maryland has strict laws regarding foreclosure procedures. According to the Maryland Department of Labor, the number of foreclosures...
In the first quarter of 2022, the Maryland Department of Housing and Community Development reported an increase in foreclosures over the previous quarter of 32.8%. This is bad news for homeowners, especially if they are struggling to make ends meet. If you get notice...
When facing a foreclosure, you may be willing to try anything to avoid losing your home. While there are plenty of good steps you can take, there are also scams that will leave you in worse shape. Fraudulent foreclosure services will take your money and not offer you...
During the foreclosure process, you will receive multiple documents. It is important to pay attention to what you receive because these papers will provide you with a range of information about the foreclosure and where you are in the process. If you and your lender...
During the foreclosure process, you will receive various documents that allow you to know what is happening. The first document you will get is a Notice of Intent to Foreclose. This notice is your warning that the lender is going to file a foreclosure. It is essential...
Maryland’s foreclosure process requires lenders to follow a sequence of mailings and legal filings. As noted by the Maryland Department of Labor, a Notice of Intent to Foreclose is the first certified letter that you may receive. The Notice of Intent acts as a...
