Posted & filed under Foreclosure Defense.

Are you facing foreclosure in Maryland or Washington, D.C?  If you act timely and do not ignore the situation, you can request a foreclosure mediation with your lender prior to a foreclosure sale.  Both Maryland and D.C. Foreclosure Mediation involves the property owner, the lender, who usually participates via telephone, attorneys for both sides, and a neutral third party. In Maryland the neutral third party is an administrative law judge who participates not in the capacity of a judge, but as a person present to help move the conversation along.  In D.C., the mediator is also present to facilitate conversation between the parties.

Once a property owner has reached a point where he is facing foreclosure, he must act fast.  This is not the time to procrastinate or not open mail from a lender.  Now is the time to decide whether it makes financial sense to try and keep the property.  If it does, then the property owner should participate in the foreclosure mediation process.  In Maryland, once the lender has filed a foreclosure case in court and the property owner has received a document called a “Final Lost Mitigation Affidavit” from the lender, the lender must also send the property owner information about participating in foreclosure mediation.  This is an important stage. Why?  Because in Maryland, the property owner only has 25 days from the day that he receives the foreclosure mediation information packet to complete it, and file the request for mediation with the Maryland Circuit Court where the foreclosure case is being handled.  In D.C., the property owner is entitled to a court ordered foreclosure mediation within a pending judicial foreclosure court case or a voluntary mediation without court involvement through a non-judicial foreclosure case, handled by D.C.’s Department of Insurance, Securities and Banking (DISB).  What is critical to remember in all of these mediation processes is the following:

  • Be Prepared (Have Copies of all of the Requested Information Submitted to the Mediation Office as well as to the Other Party on Time)
  • Be Open to Suggestions and Other Options Not Already Considered
  • Be Objective (Make Decisions Based on Informed, Neutral Factors and Not Emotions)
  • If you are a Property Owner, Seek the Help of an Attorney  Knowledgeable about Judicial and Non-Judicial Foreclosures, Foreclosure Mediation, Loss Mitigation Options Which Include Loan Modification Programs
  • Be Timely
  • Do Not Procrastinate
  • Do Not Give Up
  • Get an Experienced Foreclosure Mediation Attorney to Represent You at Mediation

Finally, I would just like to leave you with these last thoughts.  Going through a foreclosure is probably one of the lowest points of a property owner’s life.  There is a hope though.  If you want to stay in your property or you just need to discuss the situation with someone objective, experienced, and knowledgeable, give our firm a call.  Your initial consultation is free.  We have a low flat fee for legal representation at a foreclosure mediation.  Our firm can represent and advise you in all stages of foreclosure, including foreclosure litigation, foreclosure mediation, loss mitigation options,  and loan modifications; and, if necessary bankruptcy, and ways to give up the property to the lender with the least amount of liability to you.  Act now, give us a call.  We can help you if you give us the chance.