Legal Question in Real Estate Law in Maryland

Foreclosure

I have lost my job. I am in foreclosure but do not have a foreclosure sale date and I hope to be receiving unemployment benefits soon. Will I be able to save my home. I also have it up for a short sale but was told that it still would go through the foreclosure process.


Asked on 3/05/09, 5:18 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Foreclosure

Whether you can save yor home under current law will (absent an agreement from your lender) depend on whether you can make the regular monthly mortgage payment plus a payment at least sufficient to pay off the arrearage over 60 months. If the pending legislation passes, allowing judicial modifications of mortgages, it may make it much easier. See a bankruptcy lawyer now to go over your options. We practice throughout Maryland, so feel free to call me.

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Answered on 3/05/09, 5:53 pm


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