Maryland Lawmakers To Consider Slow Down In Foreclosure Process; Ban On "Rescue" Deals

In Baltimore, Maryland, WMAR-TV Channel 2 reports:

• Maryland's rising foreclosure rate is a top concern for state lawmakers this year and a Senate committee will consider several bills aimed at easing the trend. The Senate Finance Committee will consider proposals to extend the time before a foreclosure can become final. They'll also look at tougher requirements for becoming a mortgage broker and a ban on so-called "rescue" deals, where homeowners behind on mortgage payments are encouraged to sign away their home on the promise a lender will fix their mortgage problems.

Source: State Lawmakers to start Looking at Foreclosure Bills.