Legal Question in Real Estate Law in Maryland

Re: Possible foreclosure on a rental property

If your credit is in good shape and since as you say you aren't yet behind on your payments, try exploring a refinance that would lower your interest rate and therefore your monthly payment. Interest rates are low right now, although not as low for investment property as for family residences. Start by speaking to your current lender, since you have an established track record with them. If they are unresponsive, find a good mortgage broker who can explore the market and find you a better loan.

If you are already paying a low interest rate, and you just want to get rid of the property, put it on the market at an attractive price that will cover your payoff and selling expenses.