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ROBERT L. EHRLICH, JR., Governor Ch. 509
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(2) BE PRINTED IN AT LEAST 12 POINT TYPE, IN THE SAME LANGUAGE
THAT IS USED BY THE HOMEOWNER AND WAS USED BY THE FORECLOSURE SURPLUS
PURCHASER AND THE HOMEOWNER TO NEGOTIATE THE SALE OF THE RESIDENCE IN
FORECLOSURE;
(3) BE FULLY COMPLETED, DATED, AND PERSONALLY SIGNED BY THE
HOMEOWNER AND THE FORECLOSURE SURPLUS PURCHASER BEFORE THE
STATEMENT OF ACCOUNT HAS BEEN REFERRED TO THE AUDITOR; AND
(4) INCLUDE:
(I) THE NAME, BUSINESS ADDRESS, AND TELEPHONE NUMBER OF
THE FORECLOSURE SURPLUS PURCHASER;
(II) THE ADDRESS OF THE RESIDENCE IN FORECLOSURE;
(II) THE TOTAL CONSIDERATION TO BE GIVEN BY THE
FORECLOSURE SURPLUS PURCHASER IN CONNECTION WITH OR INCIDENT TO THE
TRANSACTION;
(IV) A COMPLETE DESCRIPTION OF THE TERMS OF PAYMENT OR
OTHER CONSIDERATION, INCLUDING ANY SERVICES OF ANY NATURE THAT THE
FORECLOSURE SURPLUS PURCHASER REPRESENTS THE FORECLOSURE SURPLUS
PURCHASER WILL PERFORM FOR THE HOMEOWNER BEFORE OR AFTER THE SALE;
AND
(V) THE FOLLOWING NOTICE, WHICH SHALL BE PRINTED IN AT
LEAST 14 POINT BOLDFACE TYPE, COMPLETED WITH THE NAME OF THE
FORECLOSURE SURPLUS PURCHASER, AND LOCATED IN IMMEDIATE PROXIMITY TO
THE SPACE RESERVED FOR THE HOMEOWNER'S SIGNATURE:
"NOTICE REQUIRED BY MARYLAND LAW
UNTIL YOUR RIGHT TO RESCIND THIS CONTRACT HAS ENDED, (NAME) OR
ANYONE WORKING FOR (NAME) CANNOT ASK YOU TO SIGN OR HAVE YOU SIGN
ANY DEED, CHECK, OR ANY OTHER DOCUMENT.
IF YOU HAVE ANY QUESTIONS ABOUT THIS DOCUMENT, SEEK LEGAL COUNSEL
BEFORE SIGNING. THIS IS AN IMPORTANT LEGAL CONTRACT. FAILURE TO READ
AND UNDERSTAND THESE DOCUMENTS MAY CAUSE YOU TO LOSE VALUABLE
RIGHTS.
THE EFFECT OF THESE DOCUMENTS IS THAT YOU MAY LOSE THE EQUITY IN
YOUR HOME. THIS AGREEMENT WILL NOT STOP THE FORECLOSURE OR GET
YOUR HOUSE BACK. IF YOU BELIEVE THE FORECLOSURE SALE WAS IMPROPER,
YOU SHOULD IMMEDIATELY SEEK LEGAL ADVICE TO DETERMINE WHAT
OBJECTIONS TO RATIFICATION OR TO RESCIND THE ORDER OF RATIFICATION
MAY BE FILED.
IF YOU HAVE SIGNED THIS DOCUMENT, RETAIN ALL FUNDS RECEIVED AND
PROMPTLY SEEK LEGAL ADVICE..
- 3005-
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