The Maryland Foreclosure Laws provide judicial foreclosure and non-judicial foreclosure with certain restrictions.
- The laws consider Deed of Trust and mortgage agreement as the primary security instruments.
- The foreclosure process is 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 the 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.