Maryland Mortgage Foreclosure Law

• Annotated Code of Maryland, Real Property Article, Title 7, Subtitle 1 (Foreclosure):
• • Key Provisions:
    • Pre-Foreclosure Notice (Md. Code, Real Prop. § 7-105.1):
      • Lenders must send a Notice of Intent to Foreclose at least 45 days before filing a foreclosure action.
      • The notice must include information about loss mitigation options and resources available to the borrower.
    • Loss Mitigation Affidavit (§ 7-105.2):
      • Before a foreclosure sale, lenders must file an affidavit stating they have made loss mitigation efforts.
  • Application in Court:
    • Maryland courts require strict compliance with these notice requirements and may dismiss foreclosure cases if lenders fail to provide adequate notice or engage in required loss mitigation efforts.

Maryland Consumer Protection Act

• Md. Code, Commercial Law § 13-301 et seq.:
  • Key Provisions:
    • Prohibits unfair or deceptive trade practices in mortgage servicing and foreclosure processes.
    • Lenders must provide clear and accurate information regarding loss mitigation options.
  • Application in Court:
    • Borrowers can bring claims under the Consumer Protection Act for deceptive practices, and courts may award damages or injunctive relief against non-compliant lenders.