Governor O'Malley announces the Homeownership Preservation Task Force and new efforts by DLLR Secretary Thomas Perez to aggressively enforce lending laws

DLLR, DHCD Expand Programs to Prevent Foreclosures and Combat Sub-prime Lending Schemes

Governor Martin O’Malley understands that home ownership is the dream of many Marylanders and is a critical part of sustaining and strengthening Maryland’s middle class. This dream, unfortunately, has become a nightmare for many as Maryland’s mortgage foreclosure rates rise.

Through the creation of the Homeownership Preservation Task Force, Governor O’Malley has charged the Department of Housing & Community Development (DHCD) and the Department of Labor, Licensing, and Regulation (DLLR) with preventing home foreclosures.

Another tool available to Marylanders is the “Lifeline” Refinancing Mortgage Program run by DHCD, the Lifeline program helps Marylanders facing financial difficulties after purchasing homes with "exotic" mortgages. An “exotic” mortgage includes any type of adjustable rate mortgage (ARM), balloon payment loan, or negative amortization loan.  More information on the state's refinance programs is available by calling 877-462-7555

If you have been mislead by a mortgage lender or have fallen victim to a mortgage lending scam and wish to file a complaint you may do so through DLLR. Please visit the website for the Commissioner of Financial Regulation for more information. You can also call our toll free complaint line at 1-888-784-0136.

Through DHCD and DLLR, Governor O’Malley is dedicated to helping Marylanders home ownership dreams become a reality. Please visit our site often as we continue to update information on the Maryland Homeownership Preservation Task Force and provide other ways to help Marylanders avoid mortgage foreclosures.

Updated July 30, 2009