Maryland DHCD: Governor Martin O'Malley Encourages Homeowners to Seek Foreclosure Prevention Counseling

During this holiday season, as many families consider their personal finances, Governor Martin O'Malley is encouraging homeowners who are behind on their mortgage to seek free help through Maryland's HOPE initiative. By visiting the MDHOPE website or calling the MDHOPE hotline at (877) 462-7555, homeowners can connect to a housing counselor in their area for free counseling and assistance in working out a resolution with their lender.

 

As families prepare for the gift giving season, financial issues are likely to be on the minds of many families," said Governor O'Malley. "To those homeowners whose mortgage is late, it's important to remember: don't wait. Call the MDHOPE hotline and get free help right away. The holidays are a difficult time for families to carry this burden and they should know they are not alone. There are resources available that can help them stay in their homes."

 

Through funding and technical training, the Maryland Department of Housing and Community Development supports a statewide network of 31 nonprofit agencies that provide foreclosure prevention counseling and legal assistance. Counselors and pro bono attorneys are critical links in assisting homeowners facing foreclosure by advocating for loan modifications with mortgage servicers, and advising families on money issues and other measures that may benefit their financial situation.

 

"These are difficult times, but Maryland has options to bring hope to homeowners facing foreclosure," said Maryland Department of Housing and Community Development Secretary Raymond A. Skinner. "We have dedicated housing counselors, available to hear concerns, answer questions and provide options to resolve what is a very challenging situation for many families."

 

Under the leadership of Governor O'Malley, Maryland has aggressively tackled the foreclosure crisis since 2007. Maryland passed one of the most sweeping reform packages in the country, giving distressed homeowners more time to work out alternatives to foreclosure. The state also has taken the lead in enacting tough new laws against predatory lending practices. In 2010, Maryland launched the Foreclosure Mediation Program to bring mortgage giants to the table with homeowners and give every Maryland family facing foreclosure the legal right to request mediation with foreclosure seeking lenders. To date, the MDHOPE network has aided more than 70,000 homeowners.