For many families in Baltimore, Maryland, owning a home is a life-long dream. Since the beginning of the economic slowdown a few years ago, many homeowners fell behind on mortgage payments, turning their dream into a nightmare. Although the economy has shown signs of improvement in recent months, the monetary problems still facing many Maryland residents are far from over.
Recently, two Maryland civil rights groups urged state lawmakers to impose a six-month suspension on foreclosure proceedings. However, bankers and the state administration are stressing the point that assistance is already available for struggling homeowners and that the housing market will only improve once the problem of delinquent mortgages is addressed.