February 23rd, 2021 by WCBC Radio

The Maryland Department of Labor on Tuesday announced that the statewide moratorium on new residential foreclosures has been extended through March 31. The moratorium was due to expire at the end of this month. It was originally established by executive order in April 2020 and has been extended through subsequent orders and regulatory guidance, during the course of the coronavirus pandemic.

Maryland Commissioner of Financial Regulation Antonio P. Salazar has issued new regulatory guidance to mortgage lenders, loan servicers, and collection agencies stating that the statewide reporting system for certain foreclosure notices will remain closed through March 31, 2021. While the reporting system is closed, lenders are prohibited from sending a “notice of intent to foreclose” to homeowners.