If you're falling behind on your mortgage in Anne Arundel County, you're not alone. DREAM Financial Management provides foreclosure assistance and loss mitigation guidance to homeowners in Annapolis, Glen Burnie, Severna Park, and across the county.
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In Maryland's foreclosure process, timing is everything. The earlier you engage, the more room there is to pursue a loan modification, reinstatement, or mediation before any auction or ratification hearing.
Acting before the sale stage gives you the strongest position to pursue loan modification or a repayment plan with your servicer.
Eligible owner-occupied homeowners may access Maryland's Homeowner's Foreclosure Mediation Program when they act before the sale is set.
Reinstating your loan by paying the arrears before sale keeps your options open and protects your home.
Resolving early can help you avoid additional legal costs and fees that may accumulate as the foreclosure proceeds.
Maryland forecloses primarily through a court-supervised trustee (non-judicial) sale process under the Maryland Rules. A lawsuit is not required in the typical case, but the sale must be confirmed (ratified) by the circuit court before title fully passes.
Before a Maryland foreclosure can proceed on an owner-occupied home, the lender must give the borrower a notice and file a loss mitigation affidavit with the court. You generally have time to apply for a loan modification or dispute the default before the sale is scheduled.
The lender files an Order to Docket (a request to begin foreclosure) with the Anne Arundel County Circuit Court in Annapolis. The borrower must be served with this notice, and the court dockets the foreclosure action.
The substitute trustee advertises and publishes a Notice of Sale in the county. Notice periods are set by the Maryland Rules, and the date of the auction is announced publicly.
The property is sold at public auction to the highest bidder, usually the lender itself. The winning bid is reported to the court for approval.
The court holds a ratification hearing. Until the sale is ratified, a Maryland homeowner generally retains the right to redeem the property by paying the full amount owed. Filing exceptions to the sale can challenge its validity. Once ratified, redemption is generally no longer available.
After ratification, the purchaser can seek a writ to take possession. In Maryland, the lender may pursue a deficiency judgment for any shortfall between the sale price and the debt, so understanding your exposure matters.
Unlike some states, Maryland does not have a general statutory post-ratification redemption period for home mortgage borrowers. Your most powerful tools are reinstatement (paying the arrears before sale) and Mediation through Maryland's Homeowner's Foreclosure Mediation Program, which gives eligible owner-occupied homeowners a chance to negotiate an alternative with the lender before the sale. Acting before ratification is critical.
Hardship can affect any homeowner. DREAM Financial Management provides foreclosure assistance and loss mitigation guidance throughout Anne Arundel County, Maryland.
The county seat and state capital, home to the Anne Arundel County Circuit Court.
The largest community in the county, serving many area families.
Census-designated community on the Severn River and Magothy River.
Popular communities serving homeowners throughout the central county region.
Having the right paperwork ready helps a loss mitigation specialist move faster on your behalf.
Your mortgage statement, loan note, and any correspondence from your lender or servicer.
Letters, notices, and court documents such as the Order to Docket or Notice of Intent if you've received one.
Income proof, tax returns, bank statements, and information about your monthly expenses.
If you're facing foreclosure in Anne Arundel County, Maryland, you don't have to navigate the process alone. Reach out for a free, no-obligation review of your situation.
DREAM Financial Management provides educational information and foreclosure assistance to homeowners. We are not a law firm and do not provide legal advice or legal representation. The contents of this page are provided for general informational purposes only and do not constitute a guarantee of any particular outcome. Every foreclosure case is unique and results depend on the specific facts, the lender or servicer, and applicable Maryland law. If you have questions about your legal rights, please consult a licensed attorney in Maryland.
Serving Anne Arundel County, Maryland, including Annapolis, Glen Burnie, Severna Park, Odenton, Pasadena, and surrounding communities.