How are Maryland mortgages foreclosed?
In Maryland, the lenders go to court in what is known as ajudicial foreclosure proceeding where the court must issue a final judgment of foreclosure. The property is then sold as part of a publicly noticed sale. A complaint is filed in court along with what is known alis pendens. A lis pendens is a recorded document that provides public notice that the property is being foreclosed upon. There is a non-judicial procedure to foreclose in Maryland but this process must also follow court approval. Maryland also has anassent to foreclosure which is a summary proceeding not requiring a specific hearing before the court permits a foreclosure sale. Non judicial foreclosure proceedings are also possible in Maryland with restrictions.
