As a practical matter, if you are having difficulty meeting your financial obligations, you should consider the following suggestions:
- Contact your mortgage lender and discuss the problem. They may be able to work out an arrangement to assist you over a difficult period.
- By all means pay your mortgage payment first. It is one thing to have your credit cards curtailed for non-payment; it is much worse to lose your home.
- Communicate with all your creditors in an effort to work out manageable payment terms.
- Contact the Consumer Credit Counseling Service of Maryland at 800-642-2227, a non-profit organization which can assist you in restructuring your indebtedness.
- Consult a qualified lawyer who specializes in bankruptcy matters. The local lawyer referral services can assist you.
- In no event should you ever ignore or delay responding to a written communication from your mortgage lender.
Call the Maryland HOPE Hotline at 877-462-7555 to see about finding a housing counselor and/or an attorney that can help you in navigating the foreclosure process.