Stop Foreclosure Maryland

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Maryland MD Foreclosure Laws

Lenders in the state of Maryland may foreclose on a deed of trust or mortgage in default using either the judicial or assent to decree foreclosure process. One unusual aspect of Maryland’s law is that it does not require that the lender notify the borrower of their intent to proceed with foreclosure proceedings. This is different from other states that do require that notice be given prior to the sale date being scheduled.

Judicial Foreclosure

The lender begins by filing a complaint against the borrower to obtain a decree of sale from the appropriate court of jurisdiction. If the court finds that default has occurred, they will enter the amount of the debt, interest and costs due and the timeframe in which the borrower must pay to stop foreclosure proceedings. If payment is not made, the court can order that the property be sold to satisfy the debt.

Assent To Decree Foreclosure

 Assent to a decree foreclosure is used when a provision in the security document declares that the borrower agrees to permit the court to order foreclosure in the event they default. Using this foreclosure method, the lender must file a lawsuit in court to foreclose. The court orders that the property be sold and appoints a trustee to conduct the sale. The trustee must post a bond and sell the property according to the terms fixed by the court. The court will later confirm the sale.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A "power of sale" clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee.

Despite the permission given in the power of sale clause, lenders in Maryland must still file an order to docket before foreclosure proceedings can begin. However, it is not necessary for a hearing to be held prior to the foreclosure sale.

Power of Sale Foreclosure

Power of sale clause foreclosures are conducted under court supervision in Maryland. The lender must file a lawsuit asking for foreclosure pursuant to the power of sale clause. The following steps are taken:

1. The lender provides the court with the appropriate paperwork including a sworn statement of the amount of the mortgage debt and a certified copy of the mortgage.
2. Bond is posted in the amount approved by the clerk.
3. Notice of sale containing the time, place and terms of the sale is published once a week for three weeks prior to the sale, with at least fifteen (15) days' notice of the foreclosure sale.
4. The foreclosure notice is delivered by certified mail, return receipt requested, to the borrower no less than ten (10) and no more than thirty (30) days before sale.
5. Notice is also delivered to the present owner and holder of any junior mortgage or other lien holders that have requested for notice.

Maryland does not establish a set period of time under which a borrower has to redeem real estate lost in foreclosure. The only guideline is set forth in the Doctrine of Laches which prevents that time period from being unreasonably long. Lenders may obtain a deficiency judgment within three (3) years after the accounting before the foreclosure is complete.

Legal Information Is Not The Same as Legal Advice This site provides information about Maryland state foreclosure law designed to help users safely cope with their own legal needs and possible find alternatives. Everyone's legal status is different. The laws of every state are in constant change and we recommend you consult a lawyer.