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Foreclosure Reforms Clear Maryland Senate
posted 2:11 pm Wed March 19, 2008 - ANNAPOLIS, Md.
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The Maryland Senate has unanimously approved mortgage lending bills aimed at addressing the state's rising foreclosure rate.
Senators voted without debate to approve three bills. The measures include setting up a new crime of mortgage fraud and a bill to give homeowners more time before a foreclosure can be made final.
The bills now head to the House, which is scheduled to debate Wednesday its version of mortgage lending reform.
Governor Martin O'Malley, who backs the bills, calls the sharply rising foreclosure rates in every Maryland county a crisis.
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