Legal Question in Real Estate Law in Maryland
foreclosure
If you sold your home and the buyer is paying you directly and you hold the mortgage, if the seller chooses to foreclose, what does that entail. The seller would like to retake possession of the home, but has to foreclose.
Asked on 4/02/08, 8:01 am
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: foreclosure
You need to file in court, give notice, advertise the sale, and then auction the property. After that, you need to file in court for ratification of the sale. You pretty much need to have a lawyer do this.
Answered on 4/02/08, 8:46 am
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