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Reacting to Foreclosure - Maryland Offers Homeowners  Legal Defenses to Stop  Or Delay Foreclosure<br /><br /><br /><br /> The laws are meant to: (a)  shield homeowners who have been fraudulently induced to  enter into high-interest loans; and (b) provide homeowners with  information about alternatives to foreclosure and the importance of submitting  an answer when they're served using a foreclosure  complaint.<br /><br />The newest legal protections went into effect  in April, 2008.<br /><br />[ http://youtu.be/0Ql5nh6gsE8  Maryland short sale expert] - The goal  will be to ensure that homeowners  get increased time to  investigate alternatives to foreclosure. In  responding to foreclosure complaints, homeowners should assess whether  their lender complied with the brand new  procedural requirements. Where  the required notices are not  properly served, a homeowner should  expressly increase the lender's  noncompliance to the foreclosure complaint  together with the law as an affirmative defense in their own answer. By maintaining the affirmative defenses that are  just accessible, homeowners  might have the ability to delay foreclosure and  prompt lenders to offer  non-foreclosure options, such as loan  modification and short sales.<br /><br />Formerly the Maryland  legislature passed laws requiring lenders to  provide specific notice to homeowners  regarding their rights in foreclosure actions. This law took  effect and, among other things, requires  that foreclosure notices contain  advice and specific warnings.<br /><br />[ http://shortsaleexpertmaryland.com/ebook Maryland short sale Realtor] - As with other  states, Maryland experienced record numbers of  foreclosures in 2009. Baltimore County and Prince George's County have  experienced the highest amount of  foreclosures overall. But, every portion of  the state has influenced. Foreclosure filings 2009 , in August  were up by more than 70% as compared to August, 2008. These  dismal figures reveal the  upsurge in joblessness, large  amount of high-interest mortgages, and crumbling  property values.  When served with foreclosure complaints even answers should file. Homeowners who answer foreclosure  charges are normally  competent to impede the foreclosure process. In  many instances, homeowners that  have filed responses to foreclosure  complaints have discovered that their lenders  are somewhat more ready  to take into account various  options, including loan adjustments and short sales, that  were unavailable previously.<br /><br />[ http://shortsaleexpertmaryland.com/ebook what does short sale  mean] - Foreclosure reply forms are available for  downloading, and are relatively easy to complete and file with the court. A foreclosure response do  not need to be extended or  complex. The main purpose is to deny those allegations in the  charge that are untrue, and to set forth any affirmative defenses  which might be applicable. In  foreclosure cases, responses often feature the  following affirmative defenses: (a) the mortgage was entered  into fraudulently or in violation of the Truth in Lending  Act; (b) the lender didn't comply with  applicable notice periods; and (c) the lender failed  to personally serve the foreclosure summons and complaint.  All these are some of  the affirmative defenses a  homeowner should consider maintaining in their  answer form.