Maryland Governor, Lawmaker Seek Foreclosure Moratorium

Posted by Orb Staff on October 05, 2010 No Comments
Categories : Mortgage Servicing

6822_stop Maryland Governor, Lawmaker Seek Foreclosure Moratorium Maryland Gov. Martin O'Malley and Rep. Elijah E. Cummings, D-Md., are calling for a moratorium on foreclosures in the state. O'Malley and Cummings have co-signed a letter with state Attorney General Douglas F Gansler, asking Maryland mortgage servicers to halt current and future foreclosure proceedings ‘until Maryland homeowners can be assured they're being treated fairly.’

The letters cite the ongoing controversy surrounding affidavits used in foreclosures, noting that Chase, Bank of America and Ally have acknowledged procedural flaws.

"Given that these servicers and their competitors operate nationwide, we are extremely concerned that our citizens may have been equally harmed through similar practices,’ O'Malley says.

Copies of the letter, posted on O'Malley's website, were sent to Wells Fargo, PNC, Chase, Bank of America, Ally Financial, CitiMortgage and OneWest Bank.

SOURCE: Office of Maryland Gov. Martin O'Malley

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