Maryland mortgages
Act Now! Protect Debtors, Homeowners, and Tenants This Legislative Session!
Monday, March 23 is crossover day for Maryland’s General Assembly. This means that legislation needs to pass out of one chamber and cross to the opposite chamber by midnight on that date to have a good chance of passing this legislative session. Almost all of the bill hearings are done, so the next few days are crucial. Advocates are racing to ensure priority legislation makes it onto committee voting lists, moves out of committee, and passes on the House or Senate floor. All the while, monied interests are working hard to ensure bills die in committee, are weakened to the ...
Action Alert: Help Put a Stop to Zombie Mortgages in Maryland!
Everyday Marylanders are struggling with the skyrocketing costs of basic goods and services. As many costs soar out of control, it makes everything else harder to afford too. Many Maryland homeowners are having a hard time paying their mortgages. In fact, Maryland has the sixth-highest foreclosure rate in the country. Some Maryland homeowners have also faced a terrifying zombie foreclosure. In the early 2000s, lenders were qualifying some home buyers for mortgages using an 80/20 loan, where the homeowner holds a first and second loan simultaneously. When the mortgage bubble crashed, these second loans became worthless and many homeowners thought ...
2025 End of Session Report
Yesterday was the last day of the legislative session and although it was a cool, gray, rainy day, there were still moments when the rain stopped, and the sun burst through. This is an apt description of this year's legislative session as well. At a time when economic protections and policies to promote racial equity are being decimated, and the Consumer Financial Protection Bureau is currently on life support, Maryland’s General Assembly passed some great bills, some good bills, and some very bad bills for working families. Below are some of the bills that Economic Action was thrilled to lead ...