Gov. Martin O'Malley held his first bill signing of the year yesterday to enact a number of emergency bills designed to address the foreclosure crisis gripping the state.
The Democratic governor approved three bills to lengthen the minimum length of foreclosure proceedings from 15 days to more than four months, to enact tougher criminal sanctions against mortgage fraud and to crack down on foreclosure-rescue scams in which troubled borrowers are duped into losing title to their homes.
O'Malley and legislative leaders said they wanted the bills signed as soon as possible because, as emergency legislation, they become law immediately. State officials cited a worsening housing crisis in which more than 13,000 homeowners in Maryland were in foreclosure at the end of last year, a 150 percent increase from the previous year.
A group of homeowners who have lost their homes to foreclosure or who are faced with the prospect of losing their homes joined the ceremony. "I hope that you can see we are trying, and that we're all in this together," O'Malley told the crowd. (baltimoresun.com)
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