Maryland's foreclosure mediation program:
Question & Answer
Review the question and all answer choices
Does not exist
A is incorrect because Maryland does have a foreclosure mediation program established to help homeowners facing foreclosure. This misconception might arise from confusion with states that lack such programs.
Allows homeowners to request mediation with their lender
Is mandatory for all foreclosures
C is incorrect because Maryland's mediation program is not mandatory for all foreclosures. It allows homeowners to request mediation, but it's not automatically applied to every foreclosure case.
Only for commercial properties
D is incorrect because Maryland's foreclosure mediation program specifically applies to residential properties, not commercial properties. The program is designed to assist homeowners, not commercial property owners.
Why is this correct?
Maryland's foreclosure mediation program allows homeowners to request mediation with their lender, providing an opportunity to explore alternatives to foreclosure. This option correctly identifies the voluntary nature of the program for homeowners while acknowledging its existence.
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