Foreclosure Defense in Waldorf, MD

If you’re a homeowner in Waldorf facing foreclosure, you must act fast. Otherwise, you cannot hope to protect your home and your financial future.

Foreclosure is a profound and time-sensitive matter that can have long-lasting consequences. This guide will equip you with some essential tools and resources you need. Learn more with us today, and do not miss your opportunity to act.

What Is Foreclosure?

Foreclosure starts when a homeowner in Waldorf, MD misses a mortgage payment. There is no mandated grace period for foreclosures under state law for Waldorf residents. However, you can file a legal challenge in court, and most promissory notes allow for 10 – 15 days. Moreover, the federal government has a 120-day limitation. If you do not catch up, the bank can start legal proceedings. Then, they sell the house to recoup the losses as per the contract.

Foreclosure By Power of Sale

The “power of sale” clause is a provision that permits the lender to foreclose without court intervention. Maryland does not allow power-of-sale foreclosures currently. Instead, foreclosures must go through the court system.When the lender can demonstrate certain criteria, they may sell the foreclosed property.

Foreclosure By Judicial Sale

When a property goes through a judicial sale, it happens under the court’s supervision. The process begins by satisfying the mortgage, the lien holders, then the lender. This process must follow strict procedures to ensure the new owner has legal ownership of the title.

Types of Foreclosure Defenses

If you’re facing foreclosure, it’s crucial to take action to prevent it. Your attorney in Waldorf may suggest various defenses to help you.

The Bank Didn’t Follow State Procedures

Foreclosure can be a complex and lengthy process. Consequently, it is easy to make mistakes. If the bank or lender did not follow the processes in Waldorf, Maryland, you may halt the foreclosure.

The Mortgage Servicer Made Mistakes

Mortgage services can sometimes mishandle accounts. Here are some of the most common errors to be aware of:

  • Dual tracking
  • Sending payments to the wrong account
  • Overstating the amount owed for
  • Imposing excessive fees
  • Violating foreclosure timelines
  • Failing to provide proper notice
  • Refusing to respond to requests for loan modifications

If you think the mortgage servicer made these or other mistakes, contact an attorney in Waldorf, MD. This defense is one of the best options to help you save your home.

You’re on Active Duty

The Servicemembers Civil Relief Act (SCRA) provides certain protections to active-duty military personnel. Among these protections are lenders in Waldorf cannot foreclose on your home without a court order.

This legislation applies if you obtained a mortgage before going on active duty. The lender does not have the option to foreclose without a hearing unless you sign a waiver.

The Foreclosing Party Lacks “Standing”

The entity that owns the loan is the foreclosing party. If they cannot prove they own the loan, they lack “standing.” Consequently, they are unable to foreclose.

It is common for banks to combine your loan with others and sell them to different banks or investors. As a result, it can be challenging to determine who has rights to the loan for your home.

The Statute of Limitations Has Passed

Homeowners have protection from foreclosure by the statute of limitations. It’s surprising, but some missed payments or mortgages may go unnoticed.

The statute of limitations for foreclosures in Waldorf is generally three years from default. If the lender fails to file the foreclosure action within this timeframe, the action may be time-barred. Nonetheless, the deadline may deviate depending on your circumstances.

Additional Foreclosure Defenses

We also have a list of foreclosure defense options that are not commonly known to consider:

  • Temporary restraining order
  • Bankruptcy
  • Rent back agreement
  • Short sale
  • Deed in lieu of foreclosure

Preparing for the Foreclosure Defense Process

If you hire an attorney in Waldorf, Maryland, winning is not guaranteed. Regardless, your chances of success increase significantly. Foreclosure cases are complex and require a thorough knowledge of your state’s laws. A skilled attorney can guide you through the legal system and identify any potential advantages you may have.

Your attorney also has more options if you live in a state where foreclosures go through civil court. However, if your state handles them outside the court system, you may need to file a lawsuit.  Foreclosure cases in Waldorf become the jurisdiction of the Circuit Court for Charles County. However, there are instances where the United States District Court for the District of Maryland takes the case. Taking this action can assist in delaying the process while you organize your affairs.

Work with an Experienced Foreclosure Defense Lawyer in Waldorf, Maryland

Consulting with an attorney in Waldorf, MD can be a valuable and unbiased way to find options. Additionally, most lawyers offer free initial consultations. So you can explore your options without any financial risk.

Begin taking significant actions to defend your home. Alternatively, you may prolong the process until you secure an alternative. We can even help you connect with an attorney across Maryland state lines.

Complete our online form or call us today at (866) 345-6784 to find a local foreclosure lawyer!

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