§ 4–410

Statutes in effect as of October 1, 2026.

Md. Code Ann., Hous. & Cmty. Dev. § 4-410 (2026)

Title 4. Division of Development Finance

Subtitle 4. Rental Housing Program

(a)

If a Program loan is secured by a mortgage, the Department may:

(1)

enforce the mortgage;

(2)

foreclose on the mortgage and take title to the mortgaged property or take deed in lieu of foreclosure;

(3)

convey title to a purchaser;

(4)

obtain and enforce a deficiency judgment;

(5)

allow assumption of the mortgage; and

(6)

contract with a private mortgage servicer to perform on behalf of the Department any functions a servicer ordinarily performs.

(b)

Without approval or execution by the Board of Public Works, the Department may:

(1)

assign a mortgage for value; or

(2)

convey property after acquisition.