Stop Foreclosure Maine

Did you know there are several programs that can help save your Maine home and stop the impending foreclosure? Loss Mitigation Agencies, such as ours, are experts in these programs and have assisted thousands of homeowners by providing straight answers and viable solutions.

Sometimes things beyond your control can put you into a financial bind that makes it hard to keep up with your mortgage payments. Don't let a missed mortgage payments in Maine ME turn into default, mortgage foreclosure or eviction.

You and your family can rely upon us to provide guidance, comfort and assurance through this current situation. Let us reduce your stress and put you at ease.

Complete the quick form on the right side of this page and our professional loss mitigation legal expert will contact you!

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Maine ME Foreclosure Laws

Lenders in the state of Maine may foreclose on a mortgage in default using a judicial foreclosure process.

Judicial Foreclosure Procedure

Before the lender can file the appropriate documents with the court to begin foreclosure, they must deliver a default notice to the borrower requesting that the full amount in default plus interest and fees be paid within thirty (30) days. The borrower is also notified that failure to pay will begin foreclosure action. If the borrower fails to pay, court proceedings are initiated. No hearing is held if the borrower does not oppose the court action; however, if they do, the case will proceed to trial.

If the court grants the lender the right to foreclose, the borrower has ninety (90) days to stop the foreclosure from proceeding if they pay all monies due. If they do not, the lender publishes a notice of sale for three (3) consecutive weeks in a local newspaper in the county where the property is located. The sale is scheduled thirty (30) to forty-five (45) days after the date of the first publication of sale.

At the sale, the lender may bid on the property. The property is sold to the highest bidder who generally is required to pay a specific deposit amount stipulated in the notice of sale on the sale date. The remainder can be paid within thirty (30) days. After the sale and final payment is received from purchaser, the lender transfers property ownership.

The sale may be postponed for no more than seven (7) days at a time with the postponement being announced at the originally scheduled sale date.

Legal Information Is Not The Same as Legal Advice This site provides information about Maine state foreclosure law designed to help users safely cope with their own legal needs and possible find alternatives. Everyone's legal status is different. The laws of every state are in constant change and we recommend you consult a lawyer.