Maryland Extends Foreclosure Moratorium

The Maryland Department of Labor’s Office of the Commissioner of Financial Regulation announced Wednesday the extension of the moratorium on new residential foreclosures through June 30, 2021.

The moratorium, originally established by the Governor’s executive order issued April 3, 2020 and continued through subsequent executive orders and regulatory guidance, was due to expire on May 3, 2021. The new extension date aligns with the expiration of the federal foreclosure moratorium.

“Our Office continues to monitor economic and mortgage delinquency trends in the state, the status of the virus, and governmental and public health responses,” said Commissioner of Financial Regulation Antonio P.  Salazar. “Many factors that we monitor are moving in the right direction."

You can view the updated guidance here.

Here's where the region stands on residential foreclosures:

DC - Emergency legislation requires mortgage servicers and lenders, for the duration of the public health emergency and for 60 days thereafter, to offer up to 90 days of payment deferral to qualified borrowers who have been affected by the pandemic. Late fees and other penalties accrued during the emergency must be waived. Negative credit reporting is prohibited

Virginia - A law (House Bill 340) was approved on April 22, 2020 that allows homeowners and housing owners who rent residential property to receive a 30-day pause of foreclosure proceedings if they have experienced a loss of income due to the coronavirus pandemic during the period for which the Governor has declared a state of emergency. This law expires 90 days after the end of the state of emergency.

Delaware - Stays that were previously in place to pause foreclosure proceedings have now been lifted, except in cases in which a continued stay would be in the interest of justice. Court and law enforcement officers and their agents must not act to remove individuals from properties through foreclosure for the duration of the state of emergency unless it would be in the interest of justice; however, a party may be removed from property pursuant to a judgment that was entered before the coronavirus emergency.