Real Property - Residential Foreclosures - Materially Delinquent Mortgages

SB 682 modifies Maryland's foreclosure rules for residential mortgages significantly behind on payments. It requires lenders to provide specific written loan details (like current balance, interest rate, and payment breakdown) to borrowers before filing a foreclosure lawsuit, and allows borrowers to argue that the lender waited too long (laches) as a defense. The bill also sets a minimum 90-day waiting period after a default or 45 days after sending a notice of intent to foreclose before a lawsuit can proceed, with exceptions for fraud, no payments, property destruction, bankruptcy, or vacant property. These changes aim to increase transparency and give borrowers more time to address delinquency.