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1. Real Estate and Other Housing
2. Foreclosure
3. Foreclosure Steps and Timeline
Foreclosure Steps and Timeline
This post explains the steps and timeline of a foreclosure case from beginning to end.
1. Mortgage in default
Default = 1 day past mortgage due date
- Lender sends out Notice of Intent to Foreclose (normally sent 45 days after default) and a loss mitigation application
2. Foreclosure filed in Court
- Lender's law company files Order to Docket. - Can submit at any time after 45 days from when the Notice of Intent to Foreclose is sent (or 90 days in default)
- Lender must wait 28 days after filing the Order to Docket before submitting the final loss mitigation affidavit
- Lender needs to file the final loss mitigation affidavit at least one month before sale
3. Foreclosure mediation (optional action)
- Homeowner must file mediation request and send a payment of $50, within 25 days of:
- The Order to Docket, if final loss mitigation affidavit served at very same time
- Receipt of final loss mitigation affidavit filed after the Order to Docket is submitted
- In either case - 25 days from last loss mitigation affidavit
- 45 days after the property owner has been serviced with the Order to Docket if it has a last loss mitigation affidavit filed with it; or
- thirty days after the last loss mitigation affidavit is served if it is filed after the Order to Docket is submitted
- Within 5 days of getting a mediation request, the Circuit Court will forward the demand to Office of Administrative Hearings (OAH)
- OAH will schedule the mediation within 60 days of getting the demand. OAH can extend the time approximately 1 month for good cause or longer if all parties agree. - OAH will send the property owner a scheduling notice
- OAH will also consist of instructions for documents that require to be supplied to OAH and the lender's law practice prior to the mediation. These files must be supplied no behind 20 days before the scheduled date of mediation.
- OAH submits a report with the court within 7 days after the mediation - If there is no arrangement in mediation, the Lender schedules the home for foreclosure sale.
- The Lender can arrange the sale as soon as 15 days after the mediation has actually occurred
4. Foreclosure sale
- Homeowner may submit a movement to remain or dismiss under Maryland Rule 14-211 if they have a valid defense on why the lender does not deserve to foreclosure on their home. - The motion to stay need to be submitted within 15 days after the mediation is held. If no mediation takes place, then the motion needs to be submitted within 15 days after OAH files its report with the court. This might occur if one celebration stops working to appear for mediation.
- The property owner may file a stay if the property owner has not gotten a last determination on the finished loss mitigation application that was gotten by the lender a minimum of 37 days before the sale date.
- When the loan provider schedules the foreclosure sale, they should supply notice to house owner. - Notice must be provided no behind 10 days and no quicker than 1 month before the set up sale
- The Homeowner has the right to cure the default by paying all unpaid payments, charges, and costs and reinstate the loan at any time approximately 1 company day before the foreclosure sale occurs.
- Within 2 week after a postponement or cancellation of a sale, the Lender's law practice shall send a notification that the sale was postponed or cancelled to the borrower and/or the Homeowner. The notices shall be sent by first-class mail, postage prepaid.
- Once the foreclosure sale has occurred, the lending institution must submit a report of sale with the Circuit Court - The report need to be submitted within thirty days after the sale
- The Court Clerk issues a notice that the sale will be ratified within 1 month of Clerk's notice
- If a homeowner wishes to file exceptions to sale, it needs to be filed with the Court within thirty days after the clerk's notification
- The Circuit Court ratifies the sale after the time for exceptions has past or exceptions have actually been overthrown
- After the foreclosure sale occurs and the buyer from the foreclosure sale finishes settlement, the court selected auditor will submit the Auditor's Report with the Court. - The Homeowner and any junior lienholder is entitled to get a copy of the Auditor's Report.
- The Auditor's Report will reveal a deficiency or a surplus.
- If the Auditor's Report reveals a deficiency, then the Lender may file a Movement for Entry of a Deficiency Judgment.
- If the Auditor's Report reveals a surplus, then the court auditor will advise to the Court how the profits should be distributed.
5. Eviction
- The purchaser from the foreclosure sale submits a Movement for Entry of Judgment Awarding Possession - The Court should issue an order giving belongings
- After the entry of judgment, purchaser should send out an eviction notice prior to executing the writ of possession
- After the expulsion notice is served, purchaser must file an ask for writ of ownership
- Sheriff then executes the writ and kicks out previous property owner
Read the Law and Rules: Md. Code, Real Residential Or Commercial Property § 7-105.1; Md. Rules 2-647 (Enforcement of Judgment Awarding Possession); 14-102 (Judgment Awarding Possession); 14-207 (Pleadings); & 14-305 (Procedure Following Sale); COMAR 09.03.12
The Foreclosure Process from the Maryland Courts
Is this legal guidance?
This website offers legal information, illegal recommendations. We strive to make sure the precision of the details and to plainly describe your alternatives. However we do not provide legal advice - the application of the law to your individual scenarios. For legal recommendations, you need to consult an attorney. The Maryland Thurgood Marshall State Law Library, a court-related company of the Maryland Judiciary, sponsors this website. In the lack of file-specific attribution or copyright, the Maryland Thurgood Marshall State Law Library might hold the copyright to parts of this website. You are free to copy the details for your own usage or for other non-commercial purposes with the following language "Source: Maryland's People's Law Library - www.peoples-law.org.
