Legal Question in Real Estate Law in Maryland
Forclosure sale
Hello, I wanted to know if a Mortage lender is required by law to inform the borrower of the date of sale. All they said was that the property in under forclosure review but has not informed me of a date. The way I found the date of sale was in the newspaper with my name and sale date. Are they not suposed to let me know before they do this?
1 Answer from Attorneys
Re: Forclosure sale
MD law requires the lende to give the owner of the property written notice of the pending foreclosure action within 2 days of the docketing of the action, by both certified and regular mail. The law states that the notice must state that a foreclosure sale of the property will be held, and the time, place and terms of the sale, which must be not less than 10 nor more than 30 days from the notice date. If the lender doesn't have your current address, the notice would have been sent to your last known address. The lender isn't required to "track you down" if you haven't kept your address current with them.