Maryland Foreclosure Timeline and Laws

Maryland Foreclosure Process and Procedure

If you default on your mortgage, your lender can institute foreclosure proceedings against you and auction your property at a foreclosure sale.

Maryland foreclosures are conducted by judicial foreclosure proceedings. Maryland also has an assent to foreclosure which is a summary proceeding not requiring a specific hearing before the court permits a foreclosure sale. Non judicial foreclosure proceedings are also possible and must follow court approval.

Notice Requirements for Foreclosure in Maryland

Notice of sale must be published in a local newspaper for three consecutive weeks. The trustee must send a notice of sale to the borrower and any other lien holders at least 10 days before the date of the sale.

After the sale, if there is a successful bidder, a notice that the sale has occurred is published in a local newspaper to advise interested parties that any objections must be made within 30 days. If no objections are filed, the court will confirm the sale.

Maryland Deficiency and Anti-Deficiency Laws

The lender may obtain a deficiency judgment if the property is sold at foreclosure auction for less than the loan amount.

Maryland Redemption Rights

Maryland has no post-sale statutory right of redemption.

Maryland Assistance, Special Programs, Government Help, and Law Updates

Foreclosure Programs:

•  Maryland Foreclosure Avoidance Counseling -HUD
• The Home Affordable Mortgage Modification Program
• The Home Affordable Refinance Program
• The Home Affordable Foreclosure Alternatives Program
• FHA Secure
• Hope for Homeowners

Foreclosure Lawyer

Maryland foreclosure laws are complex. It is recommended that you consult with a foreclosure lawyer who can advise you about options to avoid foreclosure including refinancing, reinstatement, deed in lieu, mortgage modification, short sale or bankruptcy.