Note: The nature of the foreclosure process and the parties involved can vary state by state. This article is based on the laws in the State of Maryland and is not a reflection of or guidance on the laws of any other state.

Chances are someone you know is going through the painful process of a foreclosure. It might be the person sitting next to you at work or at shul. Anyone in foreclosure is already dealing with the gut-wrenching experience of potentially losing their home. What makes this process even more challenging is the perplexity that surrounds it. This general overview of the foreclosure process is to provide clarity and guidance to those who are unused to the vagaries of the legal system, and may not know where to turn to for help.

Let’s first explore the identity of those involved in the foreclosure process. Often, the parties listed on the initial notice include only the names of banks or law firms. This can be very confusing and leads to questions like “Who is this lawyer and why have I never heard of him?” or “Does one of these parties represent my interests?” To help clarify, the main parties are the investor, the servicer, the law firm/substitute trustee(s), and the homeowner.