Maryland Banks Have 3 years to Sue Foreclosed Homeowners, Not 12

 

The Maryland legislature just significantly shortened the time period in which banks can sue foreclosed homeowners for a deficiency. Under a loophole in the old law, banks often had 12 years to pursue foreclosure homeowners for unpaid mortgage debt. Starting July 1, 2014, they’ll  have to do it within three years. What Is a Deficiency After Foreclosure? If you lose your….
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