Abusive loans involve originating loans by deceiving consumers about the benefits, cost, or terms of the loan. If you think you have been a victim of such a practice, you can file a complaint with the Commissioner of Financial Regulation. It is also important to check if a person or company is licensed before doing business with them. Exceptions to the anti-lien restrictions are limited, but may include existing specific liens, non-consensual liens imposed by law enforcement, liens that guarantee the debt of permitted purchase money, and tax liens or court liens that are challenged in good faith and in such a way that they do not jeopardize the lender's collateral position.
Developers are encouraged to seek out all available funding sources and not view Baltimore County as the main or only source of funding. The Live Close to Your Work program is a partnership between LifeBridge Health and Baltimore County designed to encourage homeownership and maintain strong neighborhoods in Baltimore County communities near Northwest and Sinai hospitals. If you're a Baltimore County homeowner and are struggling to pay your mortgage or other housing expenses, you can learn about the Maryland Homeowners Assistance Fund. The Ambrose Housing Aid Center provides free homebuyer education (workshops), homebuyer counseling, financial education counseling, foreclosure counseling, and legal assistance to low-income residents and older people in Baltimore County.
The property must present a lead-based paint risk, which will be determined by a qualified Baltimore County lead risk evaluator. Baltimore County's Lead Safe grant program is designed to reduce lead-related risks in homes in selected community conservation areas through a comprehensive lead-related risk reduction plan, economic development, job training, outreach, and education. If you have debts, a debt management service provider (DMS) may be able to help you manage your debt through advice and negotiated payment terms.
Negotiating Terms with Lenders
LifeBridge employees who purchase housing in Baltimore County communities near LifeBridge Health centers are eligible for this program.We represent and advise some of the best lenders in the area when it comes to granting commercial real estate loans (acquisition, development, construction and refinancing) and commercial asset-based loans (term lines of credit and lines of credit secured by inventory, accounts receivable and other assets) to developers, business owners and investors. Almost all lenders will require a general enforceability opinion in which the borrower's attorney says, among other things, that the loan documents have been validly authorized, executed, and delivered and that they are enforceable according to their terms (subject to applicable bankruptcy laws and laws affecting creditors' rights in general). In addition to negotiating the reimbursement of the commitment fee in such a case, consider requesting extension rights, even if such extensions come at a price.
Conclusion
Negotiating terms with lenders in Baltimore County can be a complex process.It is important to understand all of your options before entering into any agreement. Be sure to check if a person or company is licensed before doing business with them. Additionally, there are several programs available for homeowners who are struggling to pay their mortgage or other housing expenses. Finally, if you have debts, a debt management service provider may be able to help you manage your debt through advice and negotiated payment terms.
