In Pasadena, Republican voters have a dizzying array of choices for state delegate this year. Six challengers are up against two incumbents in the two-delegate District 31B. Most of the challengers are gunning for one of those incumbents: Del. Don Dwyer Jr.
State lawmakers approved a bill Monday that bars the state from using eminent domain to seize mortgages or deeds of trust for a two-year period. The General Assembly also voted to reduce the amount of time homeowners are liable for mortgage debt not expunged by a short sale or foreclosure auction.
The state legislature will consider this spring a handful of bills related to the mortgage crisis, but unlike in previous years, many are focused on what happens after the foreclosure process is complete.
Building on the Dream Act approved by voters in 2012, Democratic gubernatorial candidate Anthony G. Brown proposed Thursday that Maryland provide low-interest college loans to the children of immigrants who are in the country illegally.
The 2013 State of Housing in Black America report found that African-American homeownership dropped from 48 percent in 2007 to 43 percent today and foreclosure rates were higher among African Americans and Latinos. NAREB President Donnell Spivey said he is concerned that the recession has made many people in the African American community wary of homeownership, traditionally a safe investment and a route to the middle class.
A 2010 state law gave homeowners in foreclosure the right to mediation, a face-to-face meeting meant to stop the runaround many homeowners faced in dealing with lenders and the companies that service mortgages. But three years later, legal advocates and others say mediation has done little to help many troubled homeowners and that some of the practices the law was designed to stop continue.
Maryland will receive about $86 million for principal reduction, the sixth-highest amount, or 4.3 percent of the relief available, according to Maryland Attorney General Douglas Gansler. There are also 2,461 loans eligible for cash payments, with disbursements expected to be more than $1,000 each.
One California city's controversial plan to use eminent domain to reduce the number of underwater mortgages has caught the eye of some Baltimore leaders, who say the city might benefit from the program too.
Maryland had the fifth-highest rate of new foreclosure cases in the nation during the summer, the number increasing from the spring even as many other states improved, the Mortgage Bankers Association said Thursday.
Baltimore officials have revised tax bills for many of the 315 property owners who saw their taxes jump unexpectedly in July, after the city concluded that state officials had been granting excessively large discounts for historic renovations.