Documents Required for Foreclosure

If an individual fails to make the regular payments on his or her mortgage loan, he or she may face foreclosure by the bank or mortgage lender. While lenders may be able to forgive a few late or missed payments, serious delinquency may require the lender to reclaim the property from the buyer. In order to go through with a foreclosure, the lender usually must file paperwork with the county Circuit Court.

The lender will typically have to submit paperwork outlining the amount of the loan and the amount of money that is in default. It is important for homeowners to understand the foreclosure process and know their rights when it comes to protecting their home. If you would like to know more about preventing foreclosure, contact the Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C. at 443-546-4608 today.

The Foreclosure Filing Process

When a bank begins the foreclosure process, the following paperwork is typically required by the court:

• A copy of the “Notice of Intent to Foreclose”
• Copy of the deed of trust or mortgage
• Itemized amount of debt owed by the homeowner
• An affidavit of ownership
• Mortgage lender and loan originator's information (including license numbers)
• Notice regarding the filing of foreclosure
• Affidavit that the homeowner is not in the military (and therefore subject to different foreclosure regulations)

When the lender submits the itemized amount of debt owned, they will typically include the principal and interest, as well as any late-payment penalties, attorney's fees, and any other associated charges.

Contact Us

For information on foreclosure prevention and legal assistance, contact the Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C. at 443-546-4608 today.