Legal Question in Real Estate Law in Maryland

Front Foot Benefit

Hello,

We are negotiating with the lender to keep our home from foreclosure, however there is a private Front foot benefit company that has given us a notice to establish a lien on the property. I am behind many bills including this. However things are improving and we hope we can overcome our debts if the lender accept a loan modification which is in process. We never thought it as another painful charge on the house. We were so excited when we signed for the house in 2007.I wonder if we could negotiate with this company as well and at lease reduce this high amount for some time until our income improves and we could stand on our feet. Thank for your advice.


Asked on 4/23/09, 2:02 pm

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: Front Foot Benefit

You've got nothing to lose by contacting this company and trying to negotiate a payment plan that fits within your budget. These companies, like homeowners' associations or condo associations, typically just file liens against delinquent property owners and wait for the mortgage to be refinanced of the property to be sold. Then they must be paid because the lien kicks over to the new owner or new lender. If you can work out a payment plan and avoid the filing of the lien, it would be advantageous.

Read more
Answered on 4/23/09, 2:20 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Maryland