For nearly two years, Americans, particularly interested Maryland residents, lived without the threat of a foreclosure sale. Most took advantage of the forbearance opportunities that mortgage companies offered. Then, the forbearances ended the moratorium on foreclosures ended. We are here today, and foreclosure sales in Maryland and across the US are coming back.
It’s not too late to stop Maryland Foreclosure Cases
With all of the Federal protections that have been established in the last two years, many people do not believe their home will be foreclosed despite receiving all of the paperwork from their mortgage company's attorneys. Understandably, homeowners would think it's some hoax since there's so much disinformation on every type of media, or they believe that the government will bail them out again and stop Maryland foreclosures since the government did so for nearly 2 years.
Will your mortgage servicer start the foreclosure process for missed mortgage payments?
The answer is that it is simply time for the foreclosure process to begin again. Recently, Chapter 13 bankruptcy Attorney Jill Phillips stated, "I wish that they never start for my client's sake, but it is time that they do." Homeowners facing foreclosure because they are behind in their mortgage payments must act now to prepare how to deal with their pending foreclosure sale or, even better yet, avoid foreclosure.
Can the foreclosure process be stopped?
What to do? First, you should contact your mortgage lender either online or over the phone and see what programs they offer for people who are behind in their payments. They may offer loan modifications or other loss mitigation programs with a modified payment plan. You should exhaust all opportunities to apply for relief provided by your mortgage company. It would help if you also considered selling your home. The market has been amazingly high, and you might have an opportunity to receive some profit from your home and get out from underneath your mortgage issues.
However, you must keep your foreclosure auction sale date in mind. You have options to save your home, but these options must be completed before your foreclosure sale date; otherwise, you will lose your home. If you need to stop a Maryland foreclosure sale, you need to speak with a Chapter 13 Bankruptcy Attorney. A Chapter 13 Bankruptcy Attorney will be able to help you control the sale. A good Chapter 13 bankruptcy Attorney will help you design how to use your case for the outcome you seek to save your home. You use your case for time to allow a loan modification to get approved or time to let your house be sold.
I think if you are behind in your mortgage payments, you should speak with a debt relief lawyer who practices Chapter 13 bankruptcy law to help plan your steps in trying to save your home, even if you do have some time before your foreclosure sale.
