Maryland

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Maryland Protects Against New Home Purchase Deposit Forfeitures

New legislation in Maryland has been introduced to provide further protections to purchasers of newly constructed homes from earnest money deposit forfeitures, when the transaction is contingent upon the purchasers obtaining a mortgage loan. The new legislation came into existence after it was discovered that a large nationwide homebuilder was routinely collecting forfeited earnest moneyRead More

MD Regulation Discourages Referrals by Real Estate Agents

By Harvey S. Jacobs If you live in Maryland and your real estate agent refuses to refer you to a mortgage lender, he isn’t being rude. Real estate agents making referrals to service providers in Maryland can now be fined up to $5,000 if they violate a new state Real Estate Commission regulation. That regulationRead More

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