MARYLAND FORECLOSURE LAWS
TYPES OF FORECLOSURE:
Judicial foreclosure is the most used method. Even if the loan document has a power of sale clause, the lender must file a lawsuit. The other type of foreclosure is Assent to decree foreclosure. With the approval of the borrower, the court may order the sale of the property.
Deficiency: The lender has three years to obtain a deficiency judgment.
Redemption: The court has the right to decide in each case.