Lance Denha Weighs in on New Foreclosure Trends, Maryland Rates Increase

PHILADELPHIA, PA, October 09, 2012 (Press-News.org) In recent years, foreclosures have been clouding the housing market in record-high numbers. Although recent legal action against robo-signing procedures has helped calm the rising trend of bank-owned properties, many states are still struggling with escalating rates of foreclosure. A recent article from The Washington Post reveals that Maryland is currently leading the country in foreclosure rates, surpassing high numbers in Florida and Georgia. Citing survey data collected by Washington-based Mortgage Bankers Association, the article notes that "almost 20 in every 1,000 home loans in Maryland--twice the national average--were drawn into the foreclosure process during April, May and June." Trusted attorney Lance Denha, specializes in providing legal assistance to homeowners facing foreclosure; he explains that the varied stipulations in every state are part of the reason for the surge in Maryland's foreclosure rate.

The article notes that while many home loan experts expect prices and sales numbers to normalize, the recent surge in foreclosures suggests that Maryland will continue to struggle with the problem. Ginna Green, a spokeswoman for the Center for Responsible Lending, tells The Washington Post that in order to help curb the "foreclosure explosion," Maryland and other states must "be aggressive about pursuing loan modifications for homeowners that can still afford to pay." At the Law Office of Lance Denha, Mr. Denha takes a unified, aggressive approach to helping homeowners maintain ownership as banks and lenders attempt to pursue foreclosure and home seizure. However, Lance Denha explains that the specifics of foreclosure law as determined by the state can drastically affect the outcome in a region's foreclosure rates.

Lance Denha reminds homeowners that foreclosure processes can vary in each state, depending on whether the region follows judicial or non-judicial foreclosure statutes--some of which may offer both. He connects the states leading in foreclosure rates--Maryland and Florida--to their judicial procedures. Lance Denha explains, "The difference between judicial and non-judicial does, indeed, play a factor in backlogging the foreclosure process due to the fact that in judicial states, homeowners are afforded the opportunity to defend a foreclosure action against the banks. In non-judicial states it can be more of an expedited process, should the homeowner not seek out mediation. Therefore, it is believed that a primary factor in Maryland and Florida leading the way in foreclosure action is due to homeowners challenging bad loans." For those facing foreclosure, Lance Denha recommends that homeowners find an attorney who is familiar with state laws, so to possibly prevent losing their property.

ABOUT:

The Law Offices of Lance Denha provides legal assistance to homeowners across multiple states. Known for aggressively defending his clients, Lance Denha brings legal action against banks and lenders during foreclosure and home seizure cases. Through his work, Lance Denha utilizes thorough knowledge regarding state and federal laws. Additionally, he fights to keep his clients in their homes with the assistance of an experienced legal staff.

Website: http://lancedenha.com