D.C. and Maryland Foreclosure Mediation Attorney
Residents of Maryland and D.C. who have received notification from their mortgage lender they are in default have the right to request a meeting between their lender, themselves and a qualified mediator. At these meetings, it is imperative that you have competent legal assistance. Lenders will bring their attorney to these meetings and you are also entitled to have an attorney there representing your interests. A third-party mediator will work with both you and the lender as well as the attorney’s present until an agreement can be reached that is acceptable to both parties.
What you present to your lawyer:
- Pay stubs
- Current Income (sources of incomes/proof of income)
- Bank Statements
- Proof that you can afford mortgage
Your lawyer works with you based on your goal after mediation. Your end goal may be:
- Loan Modification
- To Move out or sale property
- Avoid any Deficiency judgment associated with foreclosure
- To Keep Property
Once a mediation has been completed, there are several possible outcomes including loan modifications, deed in lieu of foreclosure and loan forbearance. If both parties do not come to an agreement the foreclosing party schedules the sale of the foreclosure. Attorney Frank Morris and his team will work with you to draft the best plan that benefits both you and the foreclosing party. If you have received a foreclosure notice in Maryland or D.C. contact the Maryland and D.C. Foreclosure Mediation attorneys at Morris LLP at (301) 731-1000 immediately. We can discuss the potential outcomes of mediation before a hearing is schedule and determine what options would work best for you based on your current financial situation.