Short Sales in Maryland
Glen Burnie Real Estate Law Attorneys
Short sales are when the agreed upon sale price of a residential or commercial property, or lot or parcel of land, is less than what is owed to the lenders or mortgage company. There are a number of financial obligations involved in short sale transactions and many laws and regulations that govern activities related to these sales.
Turn to a real estate lawyer in Glen Burnie from Ward & Co., Chtd. Our team can help ensure that your sale runs smoothly. Call us today at (410) 775-5955.
Laws & Regulations
Short sales can be complicated and are regulated by a number of state and federal acts and laws to protect sellers and buyers.
These complex laws include:
- The Credit Services Businesses Act (MCSBA), which requires advisors to be fully licensed
- The Protection of Homeowners in Foreclosure Act (PHFIA), protects homeowners when their mortgage is in default, providing an exemption
- Maryland Rule 14-216[b] which defines the time in which a lender may pursue a deficiency judgment
- Maryland Rule 14-201 to 14-218 and Md. Code Ann. Real Prop. § 7-101 to 7-111, which governs foreclosures in the state
Navigating these matters can be difficult. With the help of our Glen Burnie real estate attorneys, you can rest assured you will have a skilled and experienced advocate guiding you through your short sale.
Call (410) 775-5955 to Discuss Your Case
At Ward & Co., Chtd., our Glen Burnie short sale lawyers will work with you to help you efficiently get through your real estate transaction and move forward with your life. We offer necessary guidance, legal support, and years of professional experience to work for you and your case.
Contact our firm to schedule a free initial consultation.