THANK YOU FOR YOUR ADVOCACY EFFORTS and THANK YOU MARYLAND SENATE!
MD Senate voted 3/14 to remove MID Language in BRFA Bill!
Savemdmid.org 2/29 Rally — Success!
Under the Governor’s proposed budget, Maryland would reduce tax deductions, including mortgage interest (MID) and state and local property taxes, for many homeowners. Maryland already has one of the most aggressive real estate tax structures in the country. Preserve Maryland homeowners’ most important deductions. Tell your legislators to PROTECT Maryland’s MID.
Do you know about the Mortgage Servicer Settlement?
On February 9, 2012, Maryland Attorney General Doug Gansler announced a landmark settlement for Maryland of an estimated $960 million from the five largest mortgage servicers– Wells Fargo, Bank of America, Citi, JP Morgan Chase, and Ally Bank/GMAC.
The funds from the settlement will be used for Maryland consumers in four ways:
- · payments of up to $2,000 to individual homeowners who were victims of fraudulent servicing practices and whose homes were foreclosed upon between January 1, 2008 and December 31, 2011;
- · the development and support of loss mitigation programs such as loan modifications, forbearance plans and short sales for homeowners who are behind or very likely to be behind their loan payments due to financial circumstances;
- · refinancing for homeowners who are current on mortgages being serviced by one of the five banks named in the settlement and whose homes are worth less than their mortgage balance;
- · housing counseling and foreclosure prevention programs.
Do you think that you might be eligible?
Call the Maryland Office of the Attorney General at 410-576-6300 or 1-888-743-0023 or www.oag.state.md.us. Trained staff will provide information and help you determine if you can benefit from the program. Then, you may be transferred to the Maryland HOPE Hotline where trained counselors will assist you in filing the official claims for a settlement.
If your lender or servicer is one of the banks that is part of the settlement, please note they have established toll-free numbers for customers to call for more details:
- Wells Fargo: 1-800-288-3212
- Bank of America: 1-877-488-7814
- Citi: 1-866-272-4749
- JP Morgan Chase: 1-866-372-6901
- Ally Bank/GMAC: 1-800-766-4622
If you choose to contact your lender directly, the Attorney General’s office suggests that you ask a housing counselor for help first by calling the Maryland HOPE Hotline at 1-877-462-7555 or at www.mdhope.org.
Check the articles from the new national resource for consumers, HouseLogic, with information about increasing the value and livability of your home.
