On Friday, January 15, 2010, HUD Secretary Shaun Donovan announced a measure intended to “bring stability to home values and accelerate sale of vacant properties.”
The temporary new policy will expand access to FHA mortgage insurance is meant to allow for the quick resale of foreclosed properties.
Effective February 1, 2010, FHA, while maintaining what the release [...]
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FHA Eliminates 90 Day Seasoning Requirement
Maryland Foreclosure Purchase Law
Foreclosure Purchasers must share profits of resale under certain circumstances.
From the Office of the Attorney General of the State of Maryland:
Under section 7-311(d) of the Real Property Article, the General Assembly requires foreclosure purchasers to “make a detailed accounting of the basis for payment made to the homeowner of a property resold within 18 months [...]
