Foreclosure Steps And Timeline

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1. Real Estate and Other Housing
2. Foreclosure
3. Foreclosure Steps and Timeline


Foreclosure Steps and Timeline


This short article describes the actions and timeline of a foreclosure case from beginning to end.


1. Mortgage in default


Default = 1 day previous mortgage due date
- Lender sends Notice of Intent to Foreclose (normally sent out 45 days after default) and a loss mitigation application


2. Foreclosure submitted in Court


- Lender's law firm submits Order to Docket. - Can file any time after 45 days from when the Notice of Intent to Foreclose is sent out (or 90 days in default)


- Lender must wait 28 days after submitting the Order to Docket before submitting the final loss mitigation affidavit
- Lender must submit the last loss mitigation affidavit a minimum of 1 month before sale


3. Foreclosure mediation (optional action)
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- Homeowner needs to file mediation demand and send out a payment of $50, within 25 days of:


- The Order to Docket, if last loss mitigation affidavit served at exact same time
- Receipt of last loss mitigation affidavit submitted after the Order to Docket is submitted
- In either case - 25 days from final loss mitigation affidavit


- 45 days after the house owner has actually been serviced with the Order to Docket if it has a final loss mitigation affidavit filed with it; or
- one month after the final loss mitigation affidavit is served if it is submitted after the Order to Docket is submitted


- Within 5 days of receiving a mediation demand, the Circuit Court will forward the request to Office of Administrative Hearings (OAH)


- OAH will set up the mediation within 60 days of receiving the request. OAH can extend the time as much as 30 days for great cause or longer if all . - OAH will send the house owner a scheduling notification
- OAH will likewise include guidelines for files that require to be offered to OAH and the loan provider's law firm prior to the mediation. These files should be supplied no behind 20 days before the scheduled date of mediation.


- OAH files a report with the court within 7 days after the mediation - If there is no arrangement in mediation, the Lender schedules the home for foreclosure sale.
- The Lender can schedule the sale as quickly as 15 days after the mediation has occurred


4. Foreclosure sale


- Homeowner might submit a motion to stay or dismiss under Maryland Rule 14-211 if they have a valid defense on why the loan provider does not deserve to foreclosure on their home. - The movement to stay must be filed within 15 days after the mediation is held. If no mediation takes place, then the movement should be filed within 15 days after OAH files its report with the court. This may occur if one party fails to appear for mediation.
- The homeowner may submit a stay if the house owner has not gotten a final decision on the completed loss mitigation application that was received by the lender at least 37 days before the sale date.


- When the lending institution schedules the foreclosure sale, they should supply notification to homeowner. - Notice should be supplied no behind 10 days and no faster than 30 days before the scheduled sale


- The Homeowner has the right to treat the default by paying all past due payments, penalties, and charges and renew the loan at any time up to 1 business day before the foreclosure sale takes place.


- Within 2 week after a post ponement or cancellation of a sale, the Lender's law practice will send a notice that the sale was held off or cancelled to the borrower and/or the Homeowner. The notifications will be sent out by superior mail, postage prepaid.


- Once the foreclosure sale has actually happened, the lending institution needs to submit a report of sale with the Circuit Court - The report should be filed within one month after the sale


- The Court Clerk concerns a notice that the sale will be ratified within one month of Clerk's notification


- If a house owner wants to submit exceptions to sale, it must be submitted with the Court within one month after the clerk's notice


- The Circuit Court ratifies the sale after the time for exceptions has past or exceptions have been overruled


- After the foreclosure sale occurs and the purchaser from the foreclosure sale finishes settlement, the court appointed auditor will submit the Auditor's Report with the Court. - The Homeowner and any junior lienholder is entitled to receive a copy of the Auditor's Report.
- The Auditor's Report will reveal a deficiency or a surplus.
- If the Auditor's Report reveals a shortage, then the Lender might file a Motion for Entry of a Deficiency Judgment.
- If the Auditor's Report shows a surplus, then the court auditor will suggest to the Court how the earnings must be distributed.


5. Eviction


- The purchaser from the foreclosure sale submits a Motion for Entry of Judgment Awarding Possession - The Court should issue an order giving ownership
- After the entry of judgment, purchaser must send out an eviction notification prior to carrying out the writ of possession
- After the expulsion notification is served, purchaser should file a request for writ of possession
- Sheriff then carries out the writ and evicts former homeowner


Read the Law and Rules: Md. Code, Real Residential Or Commercial Property § 7-105.1; Md. Rules 2-647 (Enforcement of Judgment Awarding Possession); 14-102 (Judgment Awarding Possession); 14-207 (Pleadings); & 14-305 (Procedure Following Sale); COMAR 09.03.12


The Foreclosure Process from the Maryland Courts


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