Governor’s Orders Ban Foreclosures and Evictions During Coronavirus Pandemic

House and CalculatorGovernor Larry Hogan has issued additional executive emergency orders that (1) prohibits lenders from commencing foreclosures and (2) expands the ban on evictions to cover commercial and industrial properties in addition to residential properties.

The Baltimore Business Journal reports:

Nearly 70 banks, lenders and other institutions statewide have agreed to offer a 90-day forbearance and deferral period on payments, and will not be charging late fees so long as customers reach out to the providers for relief.

Hogan’s order also bars repossessions of cars, trucks and mobile homes, and directs the Maryland Commissioner of Finance Regulation to suspend some lending limits for banks, opening up additional credit for small businesses.

For more information:

Hogan issues orders barring foreclosures, evictions across Maryland (Baltimore Business Journal)