If you cannot afford to pay your mortgage, the lender has the right to foreclose on your home loan. That means the bank will take the property because of nonpayment according to the terms of your mortgage.

You may have legal recourse if you have concerns about foreclosure in Maryland. First, review the process of foreclosure to explore your options.

Foreclosure notice

State law requires the bank to send you a notice of intent to foreclose. You must receive this notice and an accompanying loss mitigation application 45 or more days before the foreclosure starts. With the loss mitigation application, you can apply for lender programs to help prevent foreclosure and bring your loan current. You can also request mediation with your lender at this time.

Docket order

Once 45 days have passed, the lender can start the court foreclosure process as long as you are 120 days behind on your mortgage payments. The bank also must let the court know whether you have applied for loss mitigation programs and the results of those efforts. At this point, you still have 25 days to request mediation for your case.

Mediation

Pursuing mediation may help you prevent foreclosure depending on the circumstances of your case. If you request mediation, the court will usually schedule a session within a month or two of the request.

When you cannot come to an agreement with the lender, the bank can seize and sell your property within 15 days of mediation. Under Maryland law, you will still be responsible for the balance of your mortgage plus legal fees if this occurs, so it is important to act quickly if you receive a foreclosure notice.