Maryland Statutes
Subtitle 8 - Maryland Home Financing Program
Section 4-811 - Eligibility for Loan -- Emergency Assistance Loans

(a)    To qualify for an emergency assistance loan made under § 4-804(4) of this subtitle, an applicant:
        (1)    shall be unable to keep payments current on the applicant’s home mortgage because of unforeseeable adverse personal or economic circumstances;
        (2)    shall be at risk of forfeiting title to the applicant’s home; and
        (3)    reasonably may be expected to resume regular mortgage payments within 24 months after the first mortgage assistance payment is provided.
    (b)    For an emergency assistance loan under § 4-804(4) of this subtitle:
        (1)    the Department shall consider the amount of equity in the property; and
        (2)    the loan may not exceed an amount equal to 36 payments of principal and interest on all superior liens, plus:
            (i)    late fees;
            (ii)    taxes;
            (iii)    insurance payments; and
            (iv)    other payments needed for the loan to be current.