Below is a summary of the mortgage foreclosure process for owneroccupied residential properties in Maryland. This article describes the steps and timeline of a foreclosure case from beginning to end. 1.Mortgage in default 2. A loss mitigation application is a document that the lender must include with its Notice of Intent to Foreclose. You will receive a Notice of Intent to Foreclose and a loss mitigation application in the mail. Under Maryland law, your lender must send you a Notice of Intent to Foreclose in Maryland at least 45 days before starting foreclosure proceedings. Explore Maryland's foreclosure process, lasting 6-9 months, with steps like Notice of Intent, mediation, and court proceedings. Learn about each step in the Maryland foreclosure process, from missing your first payment to a foreclosure sale. Also, most people who take out a loan to buy a residential property in Maryland sign a promissory note and a deed of trust, which is like a mortgage. You should also get a Loss mitigation Application along with the Notice of Intent.
