The Coastal Packet: Legislature passes law to help families facing foreclosures

Friday, June 9

Legislature passes law to help families facing foreclosures

Maine Senate Democrats - Mainers undergoing foreclosure will be protected from being prematurely evicted from their homes under a bill by Sen. Ben Chipman, D-Portland, that became law this week.

“Families undergoing foreclosure are already in a stressful situation,” said Sen. Chipman. “They deserve the time necessary to line up new living arrangements so that they can move on with their lives as best as they’re able, without the fear that the rug will be prematurely pulled out from under them. We cannot allow shady actors to prey on families in these situations.”

There is typically a 90-day period after the entry of a foreclosure judgement during which the lender cannot begin the foreclosure sale process. This period allows homeowners to make new living accommodations if they’re unable to salvage their mortgage. This bill would codify that practice into law.

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