|
Current Maine Mortgage News
Legislative Update: Maine Repeals Strict Foreclosure Laws
Maine passed a bill repealing its strict foreclosure laws. Lenders
previously had 3 options to foreclose a residential mortgage in Maine:
foreclosure by civil action; foreclosure without possession; and
foreclosure by possession. Under the amended law, lenders may only
foreclose a residential mortgage by civil action. The bill becomes
effective September 20, 2007.
Legislative Update: Maine Modified Post-Sale Recording
Requirements - Foreclosures
Maine
passed a bill requiring that the judgment of foreclosure and evidence of
compliance with the notice of public sale and the public sale itself be
recorded by a mortgagee following a foreclosure sale. The bill becomes
effective September 18, 2007.
Have any news items to
share? Please
email us!
|
Check our
