Six servicing companies that process loans in Maryland have agreed to provide foreclosure relief to struggling homeowners in the state. Under an agreement announced by the governor's office, the six -- which service 23% of all outstanding mortgages in Maryland -- will halt foreclosures and not assess late fees for 75 days as long as a borrower files a loss mitigation package with them. The six include: AmeriNational Community Services, CitiMortgage, GMAC Mortgage, HSBC Mortgage, Litton Loan Servicing, and Ocwen Financial. (Litton is owned by Goldman Sachs.) Maryland already has one of the longest foreclosure timelines in the nation -- 150 days.
Processing Content
