Maryland To Contribute Over $100 Million In Mortgage Assistance

The Baltimore Business Journal is reporting:

• "[Maryland] Gov. Martin O'Malley said Wednesday he was forming a task force aimed at preventing home foreclosures and curbing predatory sub-prime lending deals. [...] Declaring June "Home Ownership Month," O'Malley announced the creation of the Maryland Homeownership Preservation Task Force to look into the problem. The group is expected to present its findings in October. The state is also contributing $111 million in mortgage-assistance and education efforts, Housing Secretary Ray Skinner said in an interview. Skinner said the state expects to issue up to $100 million in taxable bonds, in increments of $20 million, that it will be able to use as a "lifeline" for homeowners facing foreclosure. "

For more, see State task force to tackle home foreclosures, predatory lending.

See also, Md. moves to avoid foreclosures (O'Malley announces public-private plan for refinancing, counseling).