No! It does not work that way, you need to retain the right type of attorney and you may as well seek a mortgage loan modification if possible. You need to retain experienced MD mortgage foreclosure and bankruptcy counsel. Only a mortgage foreclosure and bankruptcy attorney has the expertise to prevent you from having more problems than you can possibly imagine. To properly answer your questions and address your concerns, the best way to handle this is with an in-person consultation with an experienced mortgage foreclosure defense and bankruptcy attorney. Use AVVO's Find a Lawyer tool to select a qualified attorney. Good luck. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE. This is merely suggestions for you to think about in discussing your situation with the local attorney. Good luck.
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Most servicers will not accept partial payment unless you are approved for a repayment plan. I would definitely save what money you have and reach out to the servicer to see how to go about applying. They will likely require you to submit a loss mitigation application and be reviewed for all options....usually not possible to just call up and verbally request a particular work out. I would highly recommend that you engage a housing counselor to assist you in completing the loss mitigation package. You can find a DHCD approved non-profit MD agency at dhcd.maryland.gov/Residents/Pages/HOPE/Counseling.aspx . It is illegal in MD to charge up front fees for these types of services so be mindful of who you are working with.
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