Maryland zombie mortgages
Help Protect Maryland Homeowners from Foreclosure!
Maryland, Alabama, and Connecticut are the only three states in the country that do not have a statute of limitations for foreclosures. Statutes of limitations establishes the time limit for bringing a foreclosure action. Essentially, it means that if a homeowner misses mortgage payments, a foreclosure action must begin before the time runs out. This provides clarity for the homeowner and ensures that mortgage servicers have an incentive to work with homeowners to refinance the mortgage to a more affordable payment or begin foreclosure proceedings in a timely fashion. Forty-seven states already do this which means that mortgages lenders and ...
Post-Crossover Update: Heading To the Finish Line
Last Monday, March 17 wasn’t just St. Patrick’s Day. It was also ‘crossover day,’ the day by which a bill had to pass out of one chamber of the General Assembly in order to have a good chance of final passage by Sine Die, the last day of the 2025 legislative session on Monday, April 7. It wasn’t the luck of the Irish, it was the hard work of our policy team, our bill sponsors, our partners and supporters that led to 14 bills we’ve led and supported making it across this critical legislative hurdle. A few highlights include: HB268/SB981: ...
Voting Today — Stop Zombie Mortgages!
Today, the House and Senate will be voting on a bill that will roll back decades of consumer protection law and make it easier for zombie mortgage purchasers to enter the state. Because the turnaround rate on this bill from hearing to voting session is so quick, we need your help NOW to keep this bill from passing. The bill, HB1516/SB1026, introduced by Governor Moore’s Office of Financial Regulation, would allow predatory debt buyers to avoid oversight, investigation, regulation, and enforcement. It protects predatory zombie debt buyers instead of hardworking Maryland families. An NPR report found that more than 700 ...