Legal Question in Real Estate Law in Maryland

If the loan has in fact reached its maturity, that means that you are at the end of the original payment schedule described in the promissory note you signed when you took out the loan. In other words, if you had made all the payments on time, the loan would have been paid off by now. Your delinquency has undoubtedly had a negative effect on your credit score, but if you search around you may be able to find a lender who would be willing to give you a new loan for enough to pay off the current loan and start fresh. The interest rate would probably be high, so you would have to have enough income to make the payments. Right now you face the prospect of your lender initiating a foreclosure procedure which would result in you losing your home. You should seek a consultation with an attorney who handles foreclosure defenses and people with credit problems. Contact your county bar association for names of lawyers that will meet with you for a reduced fee, or for legal clinics they sponsor in your area where you can get a free consultation.