The best way to learn how to stop foreclosure in Maryland is simply to understand the process involved, and all of the latest laws, regulations and guidelines. Once you're fully informed, you'll be better able to protect yourself, you'll know what steps to take and how to get started should you be in need of assistance.
Ultimately, hiring Maryland bankruptcy lawyers will enable you to protect yourself, your rights and your home as completely as possible. But you can use this guide to learn more about how stop foreclosure in Maryland, and arm yourself with the vital information you need to stay a step ahead.
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The foreclosure process in Maryland was updated and became law in April 2008. Information about the regulations can be found online at the Department of Labor, Licensing and Regulation, and the Office of the Commissioner of Financial Regulations.
The new legal process sets up time frames and schedules which enable you to take action to protect yourself, avoid scams, receive assistance from foreclosure lawyers in Maryland, and more. For example, before filing a foreclosure action in court, lenders must send you a notice of their intent to foreclose at least 45 days in advance. In addition, that foreclosure action cannot be filed before a total of 90 days have passed since you defaulted on your loan.
You also have to be personally served with court papers, although if the lender is unsuccessful in doing so, they can post them to your property or send them through certified mail. After you have been served with court papers, another 45 days must pass before your home can be sold at auction, and a notice of sale must be published in a newspaper three times before the sale takes place.
Up until one business day before the auction takes place, you have the right to pay overdue payments and other fees, and stop the foreclosure in Maryland before it's too late.
Of course, to avoid foreclosure, you can have a bankruptcy attorney in Maryland work for you, on your behalf. He or she will be able to determine if bankruptcy is a viable option for you, and which filings you're eligible for. Ultimately, the correct legal maneuverings here can help you to save your home.
Foreclosure lawyers in Maryland will also enable you to proactively take a stand against those who may have committed fraud, which can be as simple or common as omitting important information during the mortgage process.
Hopefully you've been able to learn a little bit more about how to stop foreclosure in Maryland, how Maryland bankruptcy lawyers can help your cause, and what the entire process is like. It's crucial that you know what to expect and what is legally allowed, so that you can protect yourself as completely as possible.
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