Struggling with Mortgage Payments in Maryland? Here's What You Can Do
If you've fallen behind on your mortgage payments in Maryland, you're not alone. Life happens: maybe you lost a job, had unexpected medical bills, or just got overwhelmed by monthly expenses.
No matter the reason, falling behind on payments can feel stressful and even shameful. But the truth is, many homeowners have been exactly where you are. And that's where Credible Homebuyers comes in.
We work with Maryland homeowners every day who are facing pre-foreclosure, struggling to make ends meet, and unsure of what to do next. We're local, experienced, and here to provide you with real solutions, not a sales pitch.
Below, you'll find a breakdown of your main options.
Understanding Pre-Foreclosure in Maryland
Before a foreclosure happens, your home enters what's called "pre-foreclosure." This is the period after you've missed several mortgage payments (usually 90 days or more) but before the lender has officially taken back the property.
In Maryland, lenders must notify you of their intent to foreclose and provide a timeline of the legal process. This gives you a small but critical window to act.
If you do nothing, the foreclosure process moves forward and you risk losing your home and damaging your credit for years. But if you act quickly, you may have more power and flexibility than you realize.
Your 3 Options When Behind on Mortgage Payments
When you're facing missed payments, you generally have three main options to explore:
Work With Your Lender
Many lenders have hardship or forbearance programs. You may be able to:
- Modify your loan
- Pause payments temporarily (forbearance)
- Roll missed payments into the loan
Important: The sooner you communicate with your lender, the better. Lenders are often more cooperative when you're proactive. If you're not sure how to talk to them, we can walk you through it.
List Your Home on the Market
If you're able to act quickly and your house is in good condition, listing it with a real estate agent may be a viable option. This allows you to sell for top dollar, but be prepared for showings, inspections, and closing costs.
In a slow market, or if the home needs repairs, this option can be risky. You could run out of time before foreclosure proceedings move forward.
Sell to a Local Cash Home Buyer
This is often the fastest, most reliable solution when time is running out. Fortunately, Credible Homebuyers specializes in buying homes quickly and as-is, meaning:
- No repairs
- No clean-up
- No financing delays
We can often close in as little as 7 to 10 days, allowing you to avoid foreclosure and move forward with your life.
Why Lender Communication Matters
Even if you're planning to sell or take other action, keeping the lines of communication open with your lender is key. Ignoring their calls or letters won't stop the foreclosure process. It speeds it up.
Here are a few tips:
Call your lender and explain your situation honestly.
Ask about loss mitigation options.
Document everything in writing.
If you're not comfortable talking to them alone, we can work with you to prepare or even make contact on your behalf as part of our home-buying process.
Credible Homebuyers's Solution for Maryland Homeowners in Pre-Foreclosure
We're not just real estate investors, we're problem solvers. When you work with Credible Homebuyers, we aim to:
- Understand your unique situation: Whether you're behind on payments by a month or a year, we'll listen without judgment.
- Make a fair, fast cash offer: You decide if it works for you.
- Close on your schedule: Need to move fast? Need a little time to find your next home? We're flexible.
We've partnered with dozens of homeowners in Pasadena, Glen Burnie, and throughout Maryland to avoid foreclosure.
We purchase homes in any shape, from move-in ready to distressed. Whether you’re behind on payments or dealing with an unwanted rental, we’ll make you a clear offer. According to Baltimore County market stats, many sellers are opting for direct sales to avoid time on the market.
We’ve worked with homeowners to sell houses with water damage, structural issues, code violations, or outdated interiors. There’s no need to worry about making repairs—we keep the process smooth and fast. Whether you’ve owned the home for 30 years or just received it through inheritance, we’re ready to match your timeline.
The Emotional Toll of Falling Behind
It's easy to focus on the financial side of things, but falling behind on your mortgage affects every part of your life: your mental health, your family relationships, and even your sleep.
That's why Credible Homebuyers approaches every conversation with empathy. We've seen how life can throw curveballs, and we've seen how the right support at the right time can change someone's story.
There's no shame in asking for aid. In fact, it's one of the bravest things you can do.
FAQs About Pre-Foreclosure in Maryland
Take Control Before It's Too Late
Time is not on your side once pre-foreclosure begins. But the good news? You still have options.
Reach out to Credible Homebuyers today. Let's talk through your situation and see if a cash sale makes sense for you.
No showings. No repairs. Just a simple, respectful solution.
Contact us today by filling out the form.
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