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...
foreclosure prevention
Options when you need help making your home loan payment
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...
Take action to avoid foreclosure
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...
Foreclosure prevention options
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...
Be cautious about foreclosure scams
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...
What is the importance of the loss mitigation affidavit?
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...
What is a Notice of Intent to Foreclose?
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...
How long may I have to avoid foreclosure in Maryland?
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...
How can you avoid home foreclosure?
Owning a home is the dream of so many people throughout the U.S. That is why a foreclosure is such a worrisome topic, especially if you face financial issues. With a foreclosure, the lender assumes ownership of a property when the borrower can no longer make payments...
Can communication prevent foreclosure?
Financial hardship can bring added stress to many areas of your life. Your ability to repay debts you owe, such as a home mortgage, may dwindle and leave you questioning the stability of your future. A foreclosure could impact your family and disrupt your children's...