Maine Foreclosure Laws
Attorney General's Office
State House Station 6
Augusta, ME 04333
Ph: (207) 626-8800
Fax: (207) 287-3145
Foreclosure Laws in Maine
Judicial Foreclosure: Yes
Non-Judicial Foreclosure: No
Security Instruments: Mortgage
Right of Redemption: Yes. 3 Months
Deficiency Judgments: Yes
Time Frame: 90 Days
Public Notice: Complaint
Judicial foreclosure: In Maine is available, but most foreclosures
are based on the strict foreclosure process. Maine foreclosure civil procedure doctrine
holds that the lender retains ownership of the property until the mortgage is paid
in full. Therefore, if the borrower violates any condition of the mortgage, the
borrower loses all rights to the property. The lender can then simply take possession
of the property.
If the mortgage was written prior to 1975, the borrower has three months to redeem
the property. Post 1975 mortgages, allow the borrower a twelve month redemption
The lender must file an initial suit for an order of sale: If they
wish to sell the property and then wait until the redemption period has expired.
The sale can then be conducted in accordance with instructions from the court.
The notice of sale: Must be mailed via ordinary mail to the borrower,
and published weekly in a newspaper of general circulation for three successive
weeks, the first publication not more than 90 days after the expiration of the redemption
period. The public sale must be held not less than 30 days, nor more than 45 days
after the first publication of the notice.
The lender may sue for a deficiency judgment, but such deficiency is limited to
the difference between the sale price, and the appraised value of the property.