Maine Foreclosure Mediation Law
Mandatory Mediation in Foreclosure
The Maine Legislature recently passed LD 1418 on an emergency basis, requiring mortgagees to participate in mediation prior to seeking a foreclosure judgment. The new law requires mortgagees to notify homeowners of the availability of mediation and loan modifications when sending default notices and at the commencement of a foreclosure lawsuit.
The mediation process requires the mortgagee to discuss all issues associated with the loan at mediation (both legal and financial issues) and to have a representative available during the mediation process with the authority to make decisions on the loan. The new foreclosure law requires the parties at the mediation to use forms and financial calculations associated with the affordability of mortgage loans available through the FDIC website.
These changes to Maine's foreclosure laws will make it more likely that homeowners will retain their properties and result in more affordable home mortgages.
Legal Protection for Tenants
The changes to the foreclosure laws also provide more protection to tenants of properties subject to foreclosure. At the commencement of a foreclosure, both the landlord and the mortgagee are responsible for the condition of the property. Tenants must be listed as "parties in interest" to any foreclosure lawsuit, and cannot be evicted from the property until the usual eviction process is followed under state law.
Contact Us
If want to learn more about your rights as a homeowner or tenant under Maine’s new foreclosure mediation law, please contact us to schedule an appointment: (207) 283-3777.
Why should you choose Molleur Law Office?
- 01/10/11 - Comprehensive Foreclosure Defense
- 10/01/10 - Maine Court Finds Affidavit Filed in Bad Faith and Vacates Summary Judgment Order in Foreclosure
- 07/13/10 - Maine Court Foreclosure Diversion Program
- 03/26/10 - The Effects of Foreclosure on Credit Score
- 12/04/09 - The Trouble With Loan Modifications....
- 07/07/09 - Stark Succeeds in Class Action Litigation
- 06/12/09 - Mandatory Mediation in Foreclosure
- 03/07/09 - House Passes Loan Modification
- 01/31/09 - NACBA Report on Loan Modifications
- 01/06/09 - Loan Modifications in Chapter 13
- 11/29/06 - Why Choose Chapter 13 Over Chapter 7?
- 08/12/06 - Foreclosure Rescue Scams
Molleur Law Office, Biddeford419 Alfred Street |
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Molleur Law Office, Portland
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NOTE: Molleur Law Office cannot offer specific debt relief advice or bankruptcy representation through
online or phone communications. Contact: (207) 283-3777, or email sandra@molleurlaw.com to set-up a Debt Relief Consultation.
James F. Molleur, Tanya Sambatakos, Andrea Stark and Jennifer Hayden, bankruptcy lawyers located in Portland, ME and Biddeford, Maine —licensed in Maine as a bankruptcy specialist by the American Board of Certification. Licensed bankruptcy attorneys serving Maine and Massachussets. Molleur Law Office - James F. Molleur—Maine Debt Relief Agency and bankruptcy counseling for individuals & businesses in Biddeford, Portland, Sanford and throughout Southern Maine. Maine's only certified Consumer Law Attorney also offers assistance to prevent foreclosure, file Chapter 7, Chapter 13 and more. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.