The Maryland Foreclosure Law provides judicial foreclosure and non-judicial foreclosure with certain restrictions.
- The laws consider the Deed of Trust and mortgage agreement as to the primary security instruments.
- The foreclosure process usually completed in less than 90 days from the date of commencement.
- The court will determine whether a default has taken place and then fix the amount of debt along with interest applicable.
- The court will also provide a nominal time limit for the borrower to repay the debt, failing to which the lender will be allowed to sell the property.
You can read more about foreclosure types here