A legal primer on foreclosure
The Maryland State Bar Association has a new brochure available online that covers foreclosure basics. For instance:
In Maryland, before the lender can file a foreclosure case against your property, the lender must:
* Wait 90 days from the date that your loan is in default; and
* Send you a Notice of Intent to Foreclose 45 days before the foreclosure case is filed.
o The Notice of Intent to Foreclose will provide you with important information about why your loan is in default, the amount you owe to bring your loan current, the last payment received, contact information for the lender or secured party, for the mortgage servicer that collects your mortgage payments and for the department that can help you work out your default (the loss mitigation department).