Stop Foreclosure Now - Special Report reveals 7 shocking loophols available to Maryland Home Owners facing foreclosure http://capitolshortsale.com/stop-maryland-foreclosure/

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Stop Youryland Foreclosure - Discover These 7 Little Know Loopholes Available To Mayrland
Home Owners
http://capitolshortsale.com/stop-maryland-foreclosure
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With the rising tide of mortgage foreclosure actions, Maryland has implemented new legal
protections for homeowners. The laws are intended to: (a) protect homeowners who have been
fraudulently induced to enter into high-interest loans; and (b) provide homeowners with information
about alternatives to foreclosure and the importance of filing an answer if they are served with a
foreclosure complaint.
The most recent legal protections went into effect in April, 2008. Among other protections, the new
laws: (a) mandate that lenders provide the homeowner with a written notice of intent to foreclose
at least 45 days prior to filing a foreclosure action in court; (b) require that lenders wait until 90
days after a default in payment before commencing a foreclosure case; (c) require that the
foreclosure court papers be personally served upon the borrower; (d) require lenders to publish a
notice of sale in a newspaper at least three times before the foreclosure sale can take place; and
(e) give homeowners the opportunity to pay overdue payments up until one day prior to the
scheduled auction.
The goal is to ensure that homeowners are given increased time to explore alternatives to
foreclosure. In responding to foreclosure complaints, homeowners should ascertain whether their
lender complied with the new procedural requirements. Where the required notices were not
properly served, a homeowner should specifically raise the lender's noncompliance with the law as
an affirmative defense in their answer to the foreclosure complaint. By asserting the newly
available affirmative defenses, homeowners may be able to delay foreclosure and motivate
lenders to provide non-foreclosure options, such as short sales and loan modification.
Previously, in 2005, the Maryland legislature passed legislation requiring lenders to provide
specific notice to homeowners regarding their rights in foreclosure actions. This law took effect on
May 26, 2005 and, among other things, requires that foreclosure notices contain specific warnings
and information.
Like other states, Maryland experienced record numbers of foreclosures in 2009. Prince George's
County and Baltimore County have experienced the highest number of foreclosures overall.
However, the increase in foreclosure rates has affected every part of the state. Statewide,
foreclosure filings in August, 2009 were up by more than 70% as compared to August, 2008.
These grim statistics reflect the increase in unemployment, large number of high-interest
mortgages, and crumbling property values. Even the most desperate homeowners should file
answers when served with foreclosure complaints. Homeowners who answer foreclosure
complaints are generally able to slow the foreclosure process. In many instances, homeowners
who have filed answers to foreclosure complaints have found that their lenders are more willing to
consider various options, including loan modifications and short sales, that were not made

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Foreclosure answer forms are available for download, and are relatively easy to complete and file
with the court. A foreclosure answer need not be lengthy or complex. The principal purpose is to
concisely deny those allegations in the complaint that are false, and to set forth any affirmative
defenses which may be applicable. In foreclosure cases, answers often contain the following
affirmative defenses: (a) the mortgage was entered into fraudulently or in violation of the Truth in
Lending Act; (b) the lender failed to comply with applicable notice periods; and (c) the lender failed
to personally serve the foreclosure summons and complaint. These are just some of the
affirmative defenses to foreclosure that a homeowner should consider asserting in their answer
form.
Marc A. Rapaport is an attorney with 15 years of experience dealing with foreclosure defense
issues. He is the founder of http://www.StopForeclosureForms.com, a resource for homeowners
who are facing the risk of foreclosure. Http://www.StopForeclosureForms.com offers do-it-yourself
foreclosure defense forms for download, including answer forms to foreclosure complaints, loan
modification forms kits, short sale kits, and related forms to assist homeowners in stopping
foreclosure. When you download your foreclosure defense forms, you will also receive useful
instructions and information designed to assist you in stopping foreclosure and saving your home.
Mr. Rapaport is also managing member of the Rapaport Law Firm, a full-service law firm serving
individual and institutional clients. Mr. Rapaport has frequently appeared in the national media,
and is consulted by national news networks with regard to issues relating to mortgage foreclosure
law, divorce, and employment law.
Article Source:
http://EzineArticles.com/?expert=Marc_Rapaport
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Stop Youryland Foreclosure - Discover These 7 Little Know Loopholes Available To Mayrland
Home Owners
http://capitolshortsale.com/stop-maryland-foreclosure
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