In this presentation, you’ll learn about the foreclosure process in Maryland. It's an in-depth explanation of what is a foreclosure, how a foreclosure in Maryland works, and how to protect yourself against it. You’ll also learn multiple proven ways you can escape foreclosure altogether! Express Homebuyers has helped countless Maryland homeowners escape foreclosure. If you found this PowerPoint helpful, follow us and click the link below to find out more details about the Maryland foreclosure process. https://www.youtube.com/watch?v=mLPnWCP-XSY We buy houses in Maryland that are going under foreclosure. Visit www.expresshomebuyers.com for more information

1. 6564 Loisdale Court, Suite 215
Springfield, VA 22150
(877) 585-0404 www.expresshomebuyersusa.com
MARYLAND
FORECLOSURE
Process

2. FACING
FORECLOSURE
How to Avoid It and Keep
Your Home
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Every year thousands of Americans fall behind on
their mortgages. If you have fallen behind on your
mortgage payments, don’t panic! You can still avoid
foreclosure if you take the right actions quickly. In
this presentation, you’ll learn about the foreclosure
process in Maryland. You’ll also learn multiple
proven ways you can escape foreclosure altogether!

3. What to Expect
General Foreclosure
Timeline
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These timelines are not meant to be legal advice,
rather a starting point for foreclosure assistance . The
timelines also differ depending on what actions you
choose to take to avoid foreclosure. Always consult
with a foreclosure lawyer or your lender.

4. Month 1
You’ve missed a mortgage payment and have started to
receive calls from the bank. You’ll also receive a notice of
default, collection notices. Missed mortgage payment, notice
of default, collection notices, calls from the bank.
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Month 3
Month 2
Your lender sends a notice of intent to foreclose
and a loss of mitigation.
An order to docket has been filed by your
lenders law firm.

5. Month 4
Your lender will send a final loss mitigation
affidavit and mediation request form
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Month 5
Send in the mediation request form with
$50 or the sale can occur.
Month 6
Within 5 days of receiving a mediation request,
the Circuit Court sends the request to the
Office of Administrative Hearing (OAH)

6. Month 7
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OAH schedules mediation (meeting with you and the lenders lawyers). If no
agreement is made, the home is scheduled for foreclosure.
The sale can be as soon as 15 days after mediation. Once the sale is made, the
lender must report the sale within 30 days. The sale is ratified within 30 days after
the courts receive the notice of the sale. You can still redeem your home between
the time of the sale and ratification of the home. If you haven’t moved out by this
time, paperwork can be filed for an eviction. There is no redemption period after
a sale is made in MD, but there is deficiency judgment after the sale.

7. FORECLOSURE FINANCIAL AFTERMATH
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Nolo.com says that if your home is
foreclosed on your credit score can
drop 100 points or more. The
foreclosure will be kept on your
record for seven years.
Your FICO score, which is different than your
credit score, can start improving as soon as 2
years later. If you haven’t left your house after
the foreclosure sale, you can be evicted from
your property. An eviction will further lower
your credit score.
Credit and FICO
Score

8. PURCHASING
ANOTHER HOME
Once your home has been
foreclosed on, you’ll have to wait to
apply for another housing loan.
How long you have to wait depends
on the loan company.
Conventional Loans
(Fannie Mae, Freddie Mac) – Longest waiting
period, stricter credit and income requirements.
Veterans Affairs (VA) Loans
Two-year waiting period, you or your spouse must be a
veteran or currently serving in the US military.
Federal Housing Administration
(FHA) Loans
If a specific event caused you foreclosure, you can get a
quicker loan through the FHA. Examples of this would be
getting laid off, a medical emergency.
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9. Communication
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Continue communication with every involved! This could
be your partner, family members, your lender, a
foreclosure avoidance counselor, or even an attorney.

10. FRIENDS AND
FAMILY
When it comes to telling loved ones about your
situation, the sooner the better. You’ll need
their support through this tough time and they
may even be able to help.
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11. LENDER
You’ll want to tell your lender that you’re committed to
saving your home from foreclosure. Explain why you
missed your payment, and talk about your options. If
you’re speaking with a housing counselor, tell them. These
calls should be noted in your file. You should always get
the name of the person you spoke with, and remember to
write down the time and date of the calls.
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12. FORECLOSURE AVOIDANCE
COUNSELOR
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The department of Housing and Urban Development is run by the
government and can help if you’re facing foreclosure. Speak to a foreclosure
avoidance counselor for FREE.

13. ATTORNEY
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When you’re facing foreclosure, there’s going to be a lot of legal
jargon thrown at you. It helps if you have legal representation,
but it’s not needed. You’ll just have to do some more research
and make sure you ask the right questions.

14. RESEARCH FORECLOSURE PROCESS AND TIMELINE
Does my state have judicial or
non-judicial foreclosures?
This is important because non-judicial
foreclosures are a lot quicker. If you have a
non-judicial foreclosure, you also don’t have
a buffer between you and your lender.
Do I have a redemption
period?
A redemption period is the duration of time
where a person can redeem their home by
paying off any debt that has occurred with
their lender.
Do I live in a state with
deficiency judgement?
Here is a list of states that have deficiency
judgement.
How long do foreclosures
generally take in my state?
Here is a list of all the different states and about
how long a foreclosure takes in each of them.
Is there a deed of trust or power of sale?
When you’re talking to your lender, ask them if you have a deed of trust
foreclosure. This type of foreclosure may have a power of sale clause, which
will describe how your property will be sold and advertised.
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15. I Know I Can’t
Make the
Payments,
Now
What?
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I can’t make the payments, refinancing won’t work, and the
bank doesn’t want to do a short sale. Remain calm! You still
have a few options on how to save your house from foreclosure.

16. PUT YOUR HOUSE TO
WORK
There are a couple of options here. Rent out a room in
your house or the entire house and stay with a family
member. A quick way you can do this is by using Airbnb.
List your house with a location scouting company. If you
aren’t opposed to the idea of someone filming in your
house, then this could be a great option. Locationshub is
just one website where you can list your home as a
possible filming location. This is a long shot, but what do
you have to lose?
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17. START THINKING ABOUT PLAN B
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Staying with friends and
family
This is why it’s so important to be open with
your close friends and family in the
beginning. People are more likely to let you
stay with them if they know ahead of time.
Look for Rent free jobs
Au pair or live-in nanny. If you’re single
without a family this would be a great
option. A great place to apply for live-in
nanny positions would be care.com
It’s never too early to prepare for the worst-case scenario;
you lose your home.
At the end of the day, make sure to keep in contact with
everyone, use the resources available, do you research. I
wish you all the best and please contact Express
Homebuyers if you think we could help in any way.

18. 6564 Loisdale Court, Suite 215 Springfield, VA 22150 (877) 585-0404 www.expresshomebuyersusa.com