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The Office of the Commissioner of Financial Regulation

Maryland’s Foreclosed Property Registry

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Maryland Foreclosure Task ForceRecommendation-Create a centralized Foreclosed Property RegistryLegislation:

To allow government officials to better locate parties about the condition of foreclosed properties during the “limbo period” between a foreclosure auction and the ultimate recordation of the property deed. Create a simple central resource by which State and local governments have timely access to contact information for reaching the purchasers of foreclosed properties after a property auction.

Background

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• Passed during last legislative session

• Maryland’s Office of the Commissioner of Financial Regulation responsible for creating and implementing

• Became active and available for use on October 1st

House Bill 1373

Registry

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https://www.dllr.state.md.us/ForeclosureRegistry/web/content/Home.aspx

Registry

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Process

Register as a user

Initial Registration

Final Registration

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Initial Registration

Timing and Information

Within 30 days of the purchase, the purchaser must register the following information:

• The name, telephone number and address of purchaser• The street address of the property purchased in the foreclosure sale• The date of the foreclosure sale• Whether the property is a single-family or multi-family property• The name and address of the person, including a substitute purchaser, who is authorized to

accept legal service for the foreclosure purchaser• Whether the foreclosure purchaser has possession of the property

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Initial Registration (cont.)

To the best of the foreclosure purchaser’s knowledge at the time of registration:

– Whether the purchased property is vacant

– The name, telephone number and street address of the person who is responsible for the maintenance of the property

Registration Number: After the property is registered, the purchaser will receive a property ID # which will be required to submit the final registration below.

Fee: There is a fee of $50 for on-time initial registration and $100 for the initial registration filed after the time period required. Pay pal will be used for payment.

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Final Registration

Timing and Information

Within 30 days of the deed being recorded, the original purchaser must register the following information:

• The name, telephone number and address of the owner on the deed

• The date of the ratification of the sale

• The date the deed was recorded

A subsequent purchaser may not submit this information.

Fee: There is no fee for the final registration.

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Local Jurisdictions

• Enforcement authority

• Once the system is set up for reporting to the local jurisdictions, users will register and will have access to all the data in their county or town.

• Conference call soon to discuss timeline

• Future calls to train users on the system

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Contact information

Cara StretchDirector of Foreclosure Administration

Phone: 410-230-6099

Email: cstretch@dllr.state.md.us