MSBA Offers Updated Foreclosure Brochure as Public Service

This year, 25,000 foreclosures are expected to occur in Maryland and many of these families will lose their homes. One in every 200 homes in Maryland is now in some stage of a foreclosure proceeding. To help the thousands of people now facing foreclosure proceedings in our state, especially in light of the new foreclosure laws, MSBA has just released an updated Foreclosure Proceedings in Maryland public awareness brochure and is giving it away free to Maryland consumers as a public service.

Foreclosures have become a national crisis and our state is one of the worst, averaging 62 foreclosure filings a day. Many Marylanders will likely lose their homes and become displaced. MSBA’s free foreclosure guide offers assistance by providing basic legal information to support consumers, and their attorneys, as they go through the foreclosure process under the state’s new law.

MSBA’s foreclosure legal information guide was revised in June to reflect changes in the new foreclosure law. On April 4, 2008, emergency legislation took effect in Maryland and any foreclosure action filed after this date must comply with the new law. The revised MSBA public awareness brochure outlines the foreclosure process under the new law, including new notice requirements and extended time periods for foreclosure sales.

“MSBA is answering the call to help homeowners facing uncertainty over foreclosures,” announces MSBA President Kathy Kelly Howard. “We are arming consumers with information. Knowledge is power.”

Foreclosure Proceedings in Maryland is one in the series of 24 legal information guides offered by MSBA’s Public Awareness Committee. These pamphlets present legal information on each of the 24 timely legal topics in a basic and understandable way to educate the public about the law. MSBA gives these brochures away to Marylanders free-of-charge as a public service and disseminates thousands of them every year.

The basic legal information outlined in Foreclosure Proceedings in Maryland is beneficial to attorneys as well as members of the public. Many members of the Bar are not familiar with these new laws and may find the guide helpful in their daily practice of law. The brochure is available online and in a printed publication. To view the electronic brochure, refer to Foreclosure Proceedings in Maryland at the aforementioned web page. To obtain print copies of the brochure, contact Jason Zeisloft, Communications Assistant, jzeisloft@msba.org or call (410) 685-7878, ext. 3028.