Here is a summary of foreclosure laws and rules for the State of Maryland:
- Lenders use judicial foreclosure.
- The foreclosure begins with the petition in equity filing an order to docket.
- It can take up to 46 days to process the documents and the date of publication must be published for 30 days.
- The lender does not need to inform the borrower of the foreclosure until the date of sale is established by the court.
- A deficiency judgment may be obtained within approximately 3 years.
- The redemption period is decided by the court.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Maryland those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
Maryland Foreclosure Page
Love your site! thank you for great information!
The subject heading list Maryland but body text states "Here is a summary of foreclosure laws and rules for the State of Minnesota" Not sure if summary applies to Maryland or Minnesota. Checked out Minnesota and summary is very different. Why do some states not list any information related to deficiency?
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