According to a news report released by the Baltimore Sun, 4% of Maryland homeowners are in danger of losing their homes to foreclosure.  According to the report, lending institutions filed to begin foreclosure proceedings on 13,000 mortgagors, up 2,500 compared to the preceding three months.  This represents one of the largest increases in the nation.

Economists believe that this is likely due to a recent spike in seriously delinquent loans, combined with lenders attempting to beat the deadline on the state's new requirement for mandatory foreclosure mediation, which will take effect starting in July.

If you or someone you love is facing foreclosure, the Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C. may be able to help.  Please contact us today by calling 443-546-4608.