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KBC Law Day: Foreclosure Prevention & Mediation
THE KELSEY LAW FIRM/KELSEY REALTY, INC.
3034 MITCHELLVILLE ROAD
BOWIE, MD 20716
(301) 390-9080 (FAX)
Ms. Kelsey is a 2015 BV Peer Review Rated attorney, having received
recognition for her very high standards in legal ability and ethics. Ms.
Kelsey obtained her undergraduate degree at the University of Maryland
University College, where she graduated magna cum laude in 1988.
Thereafter, she obtained her J.D. at Georgetown University Law Center
in 1992 and was later admitted to practice law in Maryland, District of
Columbia, Federal and Supreme Courts.
For more than 20 years, she has practiced general civil law, including bankruptcy, collections, estate planning and
administration, guardianship, workers’ compensation and personal injury matters. She is also sole counsel to the
Prince George’s County Department of Social Services Child Abuse and Neglect Appeals Division.
Ms. Kelsey also holds a Real Estate Broker license and as an adjunct professor, she has taught real estate
transactions, ethics, legal research and writing and bankruptcy in addition to assisting with the re-write of course
modules following the major bankruptcy reform in 2005.
Ms. Kelsey is committed to upholding the standards of the legal profession and has participated as a panel attorney
for both the Maryland Judicial Nominating Committee (2007-2015) and as a Peer Review Attorney for the Attorney
Grievance Commission (2003-2015). Ms. Kelsey also regularly assists the public by volunteering in court
Alternative Dispute Resolution and local church pro bono events.
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
Fallen Behind on Your Mortgage?
In-Home Options:
Forbearance
Modify Loan
Refinance & Payoff
Rent Back then Repurchase
Out of Home Options:
Short Sale
Deed in Lieu
Cash for Keys
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
When Trouble Begins: Mortgage Default
:
Default due to Non-Payment
Payments Due on the 1st, 15 day Grace Period, but Default by the 2nd
Acceleration Clause
About suspense accounts
Refusal & Return of Payments
Now is the time to read the mail!!!
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
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The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
The Warning Phase: Pre-Foreclosure Actions
NOTICE OF INTENT TO FORECLOSE
Official Notice of Default
Information on Where to Get Help
Details of Default
Specific Amount
Contact Information
Notice of Date to Cure
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
Notice of Impending Foreclosure Action
Required Foreclosure Mediation
Instructions
Required Foreclosure Mediation
Application
Preliminary Loss Mitigation
Affidavit
Final Loss Mitigation Affidavit
(Be Careful: Actual Service is NOT always necessary!!!)
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
First line of Formal Defense: Maryland Mediation Process
Q1: What should I expect to receive from my lender
under this new law?
Q2: What does Maryland’s new foreclosure timeline
mean for me?
Q3: How can I participate in mediation?
Q4: How do I request mediation?
Q5: Which cases are eligible for mediation after the
new Foreclosure Mediation Law takes effect on July 1,
2010?
Q6: If I request mediation, is it automatic?
Q7: Where do I send my request for mediation?
Q8: How much will it cost to participate in the session?
Q9: How should I prepare for mediation?
Q10: Who can I bring with me to mediation?
Q11: How will the mediation process work?
Q12: Who conducts the mediation and where does it
take place?
Q13: What role does the mediator have in trying to
resolve the disagreement?
Q14: What happens when we reach an agreement at
mediation?
Q15: Can the lender use discussions held and offers
made at the mediation in future proceedings?
Q17: What if I need to postpone the scheduled
mediation?
Q18: What is a Notice of Intent to Foreclose (NOI)?
Q19: What is Loss Mitigation?
Q20: You have not answered all of my questions. Where
do I go for help?
Q21: Where can I find information about resources and
programs to help me avoid foreclosure?
Q22: Now that there is a mediation program, should I
still contact a housing counselor for help?
Frequently Asked Questions
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
First line of Formal Defense: Maryland Mediation Process
SOURCE:http://www.dhcd.state.md.us/website/
documents/guidlines_rosa_only.pdf
SOURCE: http://mdhope.dhcd.maryland.gov/fore
closuremediation/pages/default.aspx
For More Information:
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
Maryland Foreclosures:The Timeline
SOURCE: https://www.dllr.state.md.us/finance/consumers/frforetimeline.pdf
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm |Twitter: @KelseyLawFirm
The Loan Modifications Process : Track Two of a Two Track System
Request for Mortgage Assistance (RMA)
Loan Modification Document List Application, Paystubs, Income Tax Returns, Hardship Letter,
4506-T Form
Dodd-Frank Certification
Frustrating Process: Constant Submission of Documents, Resubmission of Documents, Faxes & Phone Calls
Document Everything!
Beware: Foreclosure Process is still pending!!
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
Last Ditch Day-of-AuctionEfforts to Save Your Home
Payment Accepted Up to time of
Sale!
File an Injunction!
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
When All Else Fails: Chapter 13 Bankruptcy
• NOT discretionary – Lender Must Comply with a Feasible Plan
• Chapter 7 Liquidation (Surrender)◦ If Equity – Refund
◦ If Loss – Imputed Income
• Chapter 13 to Cure Arrears ◦ Plan is individual, However, MUST Include Total Arrears (Hold on to the money)!
• Post Bankruptcy Mortgage Assistance (Why Now?)
• Dismiss Bankruptcy Upon Modification
• Stripping Second Mortgages, HELOC’s (MUST Complete the Plan)
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
Plan for Your Plan B!
How Long Do You Really Have to Get Out?
Don’t Wait Until the Last Minute
Leave the Home Voluntarily
File For Bankruptcy
Save Some of the Mortgage Money
Attorneys Fees
Filing Bankruptcy
New Apartment (Security Deposit)
•Chapter 13 and Chapter 7 Bankruptcy
•Estate Planning and Administration
•Guardianship Proceedings
•Uncontested Divorce
•Personal Injury/Workers’ Comp.
•Child Abuse and Neglect
•Other Civil Matters
- Licensed in Maryland and DC
- Over 20 Years Experience
- J. Franklyn Bourne Bar Assoc. Treasurer
- JFB Chair: Scholarship Committee
- Former UMUC Legal Studies Adjunct Prof.
- Real Estate Broker (Kelsey Realty)
A Proud Partner with Manna MinistriesTo Bring You Law Day 2015
PRACTICE AREAS ABOUT ATTORNEY KELSEY
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.netFacebook: www.facebook.com/TheKelseyLawFirm | Instagram: @TheKelseyLawFirm | Twitter: @KelseyLawFirm
Facebook: www.facebook.com/TheKelseyLawFirm
Instagram: @TheKelseyLawFirm
Twitter: @KelseyLawFirm
Blog: www.marylandlawyerkelsey.wordpress.com
The Kelsey Law Firm | 3034 Mitchellville Road |Bowie, MD 20716 |Phone: (301) 390-9060 | Website: www.kelseylaw.net
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