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The May 2010 U.S. Foreclosure Market Report released by RealtyTrac was good news across the United States, as the foreclosure crisis we have been facing appears to be leveling off. For Prince George's County and the state of Maryland, however, the news was not as bright. Maryland ranks 10th among all states for the number of foreclosure filings, and approximately one-third of all these foreclosures are here in Prince George's County. What's even more alarming is that the rate of foreclosures in Maryland is up an astounding 65 percent from May 2009. This rate is far higher than most other states in the report.

In my role on the Maryland Consumer Council, I spearheaded legislation that requires mandatory mediation in all foreclosure cases and testified before committees in both the Maryland House and Senate to help assure its final passage. The results are a new law will help protect homeowners facing foreclosure by enabling them to speak face-to-face with their lenders. Many Marylanders are frustrated that when attempting to negotiate with lenders for loan modification, they continue to be passed from individual to individual, and no one at the lending institution is familiar with their cases. The law, which takes effect July 1, will assist thousands of Marylanders facing foreclosure, giving residents better opportunity to modify the terms of their loan so they can remain in their homes.

RealtyTrac reports that a new wave of foreclosures could be coming in the second half of the year, especially if the unemployment rate remains high and the economy doesn't improve enough to significantly boost home sales. Once in place, the mandatory mediation law will help more Marylanders stay in their homes and help stabilize the housing market here regardless of outside economic pressures.

If you are a homeowner in need of assistance, I urge to you come and learn more about how mandatory mediation can help you stay in your home. I will be speaking at the "Homeownership and Foreclosure Prevention Forum" on June 19 from noon to 3 p.m. at the Surratts-Clinton Library. This free event is open to the public, but pre-registration is requested. To RSVP, e-mail Programs@akaupsilontauomega.org today.

Tamara Davis Brown is a candidate for Prince George's County Council, District 9.