Foreclosure/Writ of Execution (MD)

This month we are highlighting the process of determining whether a delinquent homeowner’s account should be considered for a statutory foreclosure or writ of execution (sometime commonly referred to as a Sherriff’s Sale). Either a statutory foreclosure or writ of execution divests the current non-paying homeowner from title to the property and, as such, are two of the most aggressive tools available to a Community. These remedies should be considered for the difficult to collect and high balance delinquent homeowner accounts. The result with either process is a change of ownership in the title of the property. The non-paying owner will no longer own the property after the time of the sale and the accrual of their assessments will cease. Of course, a payment plan or payment in full may be received prior to the sale date which is the best outcome for the Community.    Read the article……………..