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Maryland lawmakers are moving ahead on plans to reduce foreclosures. The Senate has signed off on several measures designed to prevent bad loans and give delinquent homeowners a better shot at avoiding foreclosures.
The Senate gave unanimous preliminary approval Monday to a bill that would create a new crime of mortgage fraud. It would be a new crime for lenders writing loans that violate state laws, or for borrowers who commit fraud to get loans they can't afford.
The Senate is also moving ahead on a bill to give homeowners more time before a foreclosure can become final, along with a bill to ban foreclosure rescue schemes some say prey on the uneducated.
Finally, the Senate voted unanimously Monday to pass a bill to force mortgage lenders to do a better job making sure borrowers can afford to repay home loans. That measure heads to the House.
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