The Maryland Department of Labor’s (Labor) Office of the Commissioner of Financial Regulation today announced the extension of the moratorium on new residential foreclosures through June 30, 2021.
The moratorium, originally established by Gov. Larry Hogan’s executive order issued April 3, 2020 and continued through subsequent executive orders and regulatory guidance, was due to expire on May 3, 2021. The new extension date aligns with the expiration of federal foreclosure moratorium.
“Our department’s Office of Financial Regulation has further extended the moratorium on new residential foreclosures through the end of June to keep Marylanders in their homes as we emerge from this pandemic,” said Labor Secretary Tiffany P. Robinson. “This extension of the moratorium provides homeowners facing financial hardships with additional time to consult with their mortgage lender to find solutions and resume making payments in order to avoid foreclosure.”
Homeowners who are facing foreclosure or at risk of defaulting on their mortgage should contact the company where they send their monthly payments to request assistance.