§ 4-410
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/md/housing-and-community-development/4-410A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4–410.
(a)If a Program loan is secured by a mortgage, the Department may:
(1)enforce the mortgage;
(2)foreclose on the mortgage and take title to the mortgaged property or take deed in lieu of foreclosure;
(3)convey title to a purchaser;
(4)obtain and enforce a deficiency judgment;
(5)allow assumption of the mortgage; and
(6)contract with a private mortgage servicer to perform on behalf of the Department any functions a servicer ordinarily performs.
(b)Without approval or execution by the Board of Public Works, the Department may:
(1)assign a mortgage for value; or
(2)convey property after acquisition.