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On July 1, a new law takes effect in Maryland giving delinquent homeowners an added protection to help them hold on to their properties.
The foreclosure mediation law is good news for homeowners who have fallen behind on their mortgages — especially in Prince George’s County, where foreclosure and delinquency rates are soaring. In April, according to data from RealtyTrac, the county recorded 1,373 foreclosures, or 24.43 percent of the foreclosures in the Washington region, the highest among any other jurisdiction here.
At the Coalition for Homeownership Preservation in Prince George’s County, where I am executive director, counselors have worked with a tremendous number of folks who have lost their jobs and can’t keep up with their payments.
Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/05/21/AR2010052104078.html
