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Foreclosure Steps And Timeline


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

    Foreclosure Steps and Timeline

    This article explains the steps and timeline of a foreclosure case from starting to end.

    1. Mortgage in default

    Default = 1 day past mortgage due date
  • Lender sends Notice of Intent to Foreclose (usually sent 45 days after default) and a loss mitigation application

    2. Foreclosure submitted in Court

    - Lender's law practice submits Order to Docket. - Can submit at 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 filing the Order to Docket before submitting the final loss mitigation affidavit
  • Lender must submit the final loss mitigation affidavit at least one month before sale

    3. Foreclosure mediation (optional step)

    - Homeowner should submit mediation request and send out a payment of $50, within 25 days of:

    - The Order to Docket, if last loss mitigation affidavit served at same time
  • Receipt of final 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 homeowner has been serviced with the Order to Docket if it has a final loss mitigation affidavit submitted with it; or
  • thirty days after the final loss mitigation affidavit is served if it is filed 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 getting the request. OAH can extend the time as much as one month for great cause or longer if all parties concur. - OAH will send out the house owner a scheduling notice
  • OAH will likewise include guidelines for documents that need to be offered to OAH and the lending institution's law practice prior to the mediation. These files ought to be supplied no later on than 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 arrange the sale as soon as 15 days after the mediation has actually happened

    4. Foreclosure sale

    - Homeowner might file a movement 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 happens, then the motion should be submitted within 15 days after OAH submits its report with the court. This might occur if one celebration fails to stand for mediation.
  • The property owner may file a stay if the house owner has not received a final decision on the finished loss mitigation application that was gotten by the loan provider at least 37 days before the sale date.

    - When the lending institution schedules the foreclosure sale, they should offer notification to property owner. - Notice should be supplied no behind 10 days and no sooner than thirty days before the set up sale

    - The Homeowner has the right to cure the default by paying all unpaid payments, penalties, and costs and reinstate the loan at any time up to 1 service day before the foreclosure sale happens.

    - Within 14 days after a postponement or cancellation of a sale, the Lender's law firm shall send a notice that the sale was postponed or cancelled to the borrower and/or the Homeowner. The notifications shall be sent by first-rate mail, postage prepaid.

    - Once the foreclosure sale has actually happened, the lender must file a report of sale with the Circuit Court - The report must be filed within thirty days after the sale

    - The Court Clerk issues a notification that the sale will be validated within 1 month of Clerk's notice

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

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

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

    5. Eviction

    - The purchaser from the foreclosure sale files a Motion for Entry of Judgment Awarding Possession - The Court must issue an order giving possession
  • After the entry of judgment, buyer must send out an expulsion notification prior to executing the writ of ownership
  • After the expulsion notice is served, purchaser should file an ask for writ of ownership
  • Sheriff then carries out the writ and kicks out previous 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
    malibugeneralcontractor.com
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