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Articles Posted in Updates to Law

No Lump Sum at the End of Forbearance
Law Office of Gerald Solomon, PA

Forbearance on your mortgage On April 27, 2020, the Federal Housing Finance Administration (FHFA) clarified misinformation that servicers and lending institutions have provided to homeowners. The FHFA clarification will only apply to mortgages that are owned by Fannie-Mae or Freddie-Mac. Specifically, you will not have to make a lump sum payment at the end of…

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Should I Agree to a Forbearance Agreement?
Law Office of Gerald Solomon, PA

Servicers are offering forbearance agreement to protect against foreclosure from the Covid-19 Pandemic. The question is “should I sign a forbearance agreement? Forbearance means “patient self-control; restraint and tolerance. The action of refraining from exercising a legal right, especially enforcing the payment of a debt.” Agreement is the “situation in which people have the same…

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Your Maryland Mortgage was Due. What are My Options to Avoid Foreclosure?
Law Office of Gerald Solomon, PA

I wrote a blog on March 25, 2020 titled Maryland Stops Foreclosures and Evictions, due to Covid-19. The topic of that blog was, should you take any proactive steps if you fear that you will not be able to meet your mortgage payments? For many, the question of what to do if you Maryland mortgage…

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Maryland Stops Foreclosures and Evictions
Law Office of Gerald Solomon, PA

This is a follow up blog to Coronavirus and Foreclosures, Sales and Evictions and Coronavirus and Foreclosure Maryland has stopped all evictions, including those resulting from foreclosure sales. The question is, should you, the homeowner, take any proactive steps if you fear that you will not be able to meet your mortgage payments? Maryland will…

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Coronavirus and Foreclosures Sales and Eviction
Law Office of Gerald Solomon, PA

Don’t fall into a trap by those who suggest that you do not have to pay your mortgage. You do. The issue is, if you cannot pay your mortgage, what you can do to prevent foreclosure. On March 18, 2020, President Trump announced that he was implementing steps to halt foreclosures, sales and evictions until…

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The Covid-19 Pandemic and Foreclosure
Law Office of Gerald Solomon, PA

Covid-19 Pandemic and Foreclosure The Great Recession of 2008 wreaked havoc on homeowners who could not afford to pay their mortgage. Maryland was among the top three states affected. Prior to the Covid-19 Pandemic, Maryland still ranks among the top three states in the amount of foreclosures per capita. Lessons from the Great Recession can…

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Where the Legislature Giveth, The Court Taketh Away . . . The Dwindling Rights of Homeowners in Maryland Foreclosures
Law Office of Gerald Solomon, PA

Loopholes in the Prior Law: In 2007 the Maryland Legislature closed a loophole in the licensing statute. The original statute defined a debt collector as one “who engages directly or indirectly in the business of . . . collecting for, or soliciting from another, a consumer claim.” A debt collector in Maryland had to be…

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