One proposal (Senate Bill 708 / House Bill 274) would reduce that time period from 12 years to 180 days. It’s being sponsored by Jamie Raskin, Democrat of Montgomery County in the Senate, and by Stephen Lafferty, Democrat of Baltimore County in the House. Another proposal (House Bill 1319) would eliminate deficiency judgments entirely. That’s being sponsored by Delegate Heather Mizeur, Democrat of Montgomery County and candidate for governor.
The Maryland Consumer Rights Coalition supports reducing the timeframe to 180 days, while the Maryland Bankers Association says that's too short. We hear from Marceline White, Executive Director of the Maryland Consumer Rights Coalition, and Kathleen Murphy, President and CEO of the Maryland Bankers Association.