The state of Maryland has initiated its own mortgage modification program to help struggling homeowners avoid foreclosure. In a recent addition, the Maryland Mortgage Program now provides a modification option for homebuyers who can not afford to pay their current mortgage rates. The program is intended to help first-time homebuyers keep their homes by adjusting mortgages more affordable rates.

According to government statistics, 1 in every 10 borrowers is at least 60 days late on mortgage payments, a higher rate than many other states. Since the Maryland Mortgage Program began in 2010, 3 loan modifications have been approved, with many others pending.

If you are behind on your mortgage payments and are in danger of losing your home to foreclosure, the Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C., can help you defend your home by assisting with the loan modification process. For sound legal advice and assistance regarding mortgage modification in Maryland, don't hesitate to contact us today at 443-546-4608.