Legal Question in Real Estate Law in Maryland

Apply with your bank for a loan modification or try to sell your home through a short sale process. Of course, if you have the 20% in cash, you can sell your home and subsidize the difference out of your own pocket at closing.

Best of luck.******The above is for informational purposes only and does not create an attorney-client privilege.******

The first thing is to check who owns your loan. If it is a government owed loan (you wouldn't necessarily know this and may still send payments to a big name lender), then various programs can help refinance into a more stable loan product. Some refinance opportunities are only available if you have not been late in the past 12 months.

Many variables affect your ability to refinance and/or modify a loan, so you are encouraged to sit down with an attorney and/or housing counselor to gauge your options.

While this post doesn't constitute legal advice I hope that it helps point you in the right direction.