Bowie, MD – Maryland became the first state in the nation to close a loan under a new federal program designed to help homeowners who are facing foreclosure due to a temporary loss of income, such as job loss or illness, Governor O’Malley announced. Read more about the Emergency Mortgage Assistance program.
Standing in front of the home of Fanny Melvin, one of the first participants in Maryland’s Emergency Mortgage Assistance program, the governor urged other beleaguered homeowners to contact the state’s MDHOPE Counseling Network to seek help.
“There is no more powerful place in our state than a family’s home,” said Governor O’Malley. “In Maryland, we’ve undertaken an array of reforms and actions to prevent foreclosures. I am pleased that our federal partners and our local leaders have joined together through initiatives such as the Emergency Mortgage Assistance program, to preserve homeownership, the cornerstone of a strong and growing upwardly mobile middle class.”
Maryland has passed what the Washington Post called some of the most “sweeping” legislation in the country, giving distressed homeowners more time to work out alternatives to foreclosure. In 2010, the administration successfully fought for legislation to create the Foreclosure Mediation Program to bring mortgage giants to the table with homeowners and give every Maryland family facing foreclosure the legal right to request mediation with foreclosure seeking lenders.
Homeowners can get more details on the administration’s foreclosure prevention initiatives and Maryland’s Emergency Mortgage Assistance Program by visiting the HOPE website at http://www.mdhope.org or by calling the HOPE hotline (877) 462-7555 to find a housing counselor in their area for free counseling and assistance.