The Baltimore Sun is reporting that according to CoreLogic, a real-estate research firm, foreclosures rose in the Baltimore area from a year earlier. The foreclosure rate increased to 4.24 percent from 2.66 percent. See the complete story here.

As a Maryland foreclosure lawyer I caution all homeowners that taking action at the earliest possible moment is critical to saving your home from foreclosure. Homeowners should gather all their mortgage related documents and save every piece of mail. The next step is to contact your mortgage lender to start the loan modification process. In addition, homeowners have several alternatives if they need assistance dealing with the lenders. Maryland has the Maryland HOPE program (1-877-462-7555) that can assist homeowners facing foreclosure. Other non-profit organizations available include the St Ambrose Housing Aid Center (410-235-5770) and the Pro Bono Resource Center (410-837-9379).

For homeowners whose foreclosure sale is imminent our Maryland bankruptcy lawyers advice that a chapter 13 bankruptcy filing may help you save your homes. Generally, a chapter 13 allows you to pay back your mortgage arrears over three or five years.

In closing, homeowners are cautioned to be proactive if they want to save their homes. Ignoring bank notices because you are behind cold cost you dearly. Reach out to the programs listed above or contact your local congressman for a more extensive list of resources available in your area.

Joseph Githuku

jgithuku@410law.com

410-849-9529

www.410law.com

Baltimore Foreclosure Lawyer. Maryland Foreclosure Lawyer. Baltimore Bankruptcy lawyer. Maryland Bankruptcy Lawyer.

Disclaimer: This article is provided for informational purposes only and should not be construed in any way as legal advice. This article does not create an attorney-client relationship.