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After your due date, we give you a 15-day grace period after that before we charge you a late fee. But if your payment arrives in our office after the last day of the month in which it was due, we notify the consumer credit bureaus that you made a late payment as stated in your mortgage contract.

The basic premise of this explanation letter is to address: The situation you were in which caused you to pay late was beyond your control. The situation has changed and your financial footing is solid again. The steps you are taking to make sure any future challenge will not impact your ability to pay.

Your grace period typically ends after 15 days. At this point, your lender may assess a late fee for payment due that can be charged each month you miss a payment. These payments can be significant, generally ranging between 4% and 5% of the total overdue balance.

If you miss one mortgage payment, your lender will likely contact you, but it's unlikely your home will be foreclosed upon immediately. You may receive a formal letter alerting you to the possible actions the lender may take. Do not disregard this notice ? it's a serious matter.

It is a crime in this state for any person to engage in or transact any home improvement business, or hold himself out to the public as doing home improvement business, unless he/she is licensed by the Maryland Home Improvement Commission (MHIC). The provisions of this state law may be waived by agreement.

Contracting businesses that plan to work on residential buildings will have to obtain a license from the Home Improvement Commission, which is a subdivision of the Maryland Department of Labor, Licensing, and Regulation.