BALTIMORE — The Maryland Department of Labor’s Office of the Commissioner of Financial Regulation has announced the extension of the moratorium on new residential foreclosures through May 3.
According to a news release, the moratorium was originally established by the governor’s executive order issued April 3, 2020 and continued through subsequent executive orders and regulatory guidance. It was due to expire on March 31.
“While the state’s economy is improving and the unemployment rate is decreasing, many homeowners are still facing financial hardships through no fault of their own due to the COVID-19 pandemic,” said Labor Secretary Tiffany P. Robinson. “As a result, our department’s Office of Financial Regulation has further extended the moratorium on new residential foreclosures through the beginning of May. I strongly encourage homeowners to contact their mortgage lender before the moratorium ends to learn about the options and solutions that may be available to them.”
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