Maine foreclosure process

In the state of Maine, judicial home foreclosures are more common. A normal Maine foreclosure process can stretch up to nine months.

Period of Pre-foreclosure

To initiate a foreclosure process in the state of Maine, the lender has to first send the borrower a notice of default. It will then be the borrower’s responsibility to pay the entire debt amount including interest and any extra fees within a timeframe of 30 days from the day the notice was sent.

To start the process of foreclosure in the state of Maine, the lender has to first file all the documents stating the borrower to be in default in the court. The lender will also have to notify the borrower regarding the foreclosure processing or action. If the borrower doesn’t oppose this then the court will order a foreclosure without any hearing. If the borrower chooses to oppose the foreclosure then the case can go for a trial.

During the trial, if the Maine court rules against the borrower then he/she will have 90 days to occupy the property and pay the entire amount due to stop the process of foreclosure. The pre-foreclosure period is separate from the 90 days and lasts from 6 to 7 months.

Auction Notice

If due to any reason, the borrower is unable to stop the Maine foreclosure in the pre-foreclosure period itself then the lender can go ahead and publish a notice of auction for three consecutive weeks in any local newspaper. The Maine foreclosure sale will be scheduled 30-45 days from the date of the first publication. The published notice will contain all important details regarding the property and foreclosure like property description, the date and time of foreclosure sale and the venue.

The foreclosures sale according to the Maine foreclosures law will take place in the foreclosure attorney’s office. The foreclosure attorney is also responsible for conducting and presiding over the foreclosure sale process.

The venue of the sale or auction can be the courthouse premises or on the premises of the property in question.

The sale can also be postponed but not for more than seven days at a stretch. The postponement of the sale has to be announced at the venue of the original sale on the date of the auction.

During the sale, the lender has the option to bid. The property will go to the highest bidder who is required to make a deposit after the sale for a specified amount. He or she can pay the rest of the amount within 30 days from the day of closing of the sale. Once the winning bidder pays the entire amount, the transfer of ownership certificate will be given to him or her.

For residential homes or commercial business, consider Arlington Heights foreclosures for sale

A Hometown Feel

Arlington Heights is a town that gives you all the advantages of living in a small town while also still offering access to some of the nearby big city amenities. Their local government is happy to offer assistance to those who would enjoy becoming residents or business owners in their town. One of the best places to look for the kind of foreclosure house for sale that you are interested in is the Arlington Heights foreclosure listings. These entries in our database include both commercial and residential homes that could be right for you.

Seek Out a Variety of Options

There are tons of options for Arlington Heights foreclosure homes and other seized properties. You can find single family homes, multi family homes, condos and commercial lots. Many of which have been repossessed by a bank or lender, these are usually offered to those who know about them at a discount. If you can find the perfect place without having to pay a fortune for it, what is there to keep you from trying out our services? They are top of the line and well-respected in the online community.

Distressed Properties Are Bargains

Bargain properties are put into our database every single day. We have numerous sources that relay foreclosure information to us, and it is then entered on our site so you can access it. In addition, our site is so easy to use and navigate that you will have absolutely no trouble finding exactly what you are searching for.

Maine Foreclosures Growing

While the rest of the housing market has created low buyer confidence due to its prolonged slump and falling property values, Maine foreclosure are becoming extremely popular among buyers for the incredibly low prices they offer at auction and through other special sales.


These days, the real estate market's troubles are well publicized, and one of the main things we hear about in reference to the current state of the market is the alarmingly high rate of foreclosures. Foreclosed homes are unique, as they are the result of a homeowner's default on their home mortgage loan. When a homeowner defaults, the lender will often have no choice but to repossess and sell the property at auction in order to collect the debt. Sales of foreclosure homes have become increasingly abundant in Maine and throughout the country as a result of the recent drop off in the housing market. The proliferation of recently instated sub prime and adjustable rate mortgages, which are extremely hard for buyers to keep up payments on, have led to a crisis in which homeowners are unable to sell off their properties to avoid foreclosure due to low property values. Therefore, the market for forclosures is flooded.
But this has also led to a huge growth market for buyers. Since foreclosures are sold as repossessions, they often go for up to 50% off their actual market value, and in Maine, where the low market has people looking for deals any way they can, there is currently no better real estate value out there. Buyers interested in learning more can search Maine foreclosure listings, as in today's sluggish market, this is the only recommendable way to make property investments.

Clinton Says that McCain's economy policy plan is simply out of touch.

Sen. Hillary Clinton attacked the future Republican nominee Sen. John McCain, on his foreclosure crisis plan and economic policy. According to Sen. Clinton, MCCain´s economic plan policy boiled down to this: "Don’t just continue driving our nation in the wrong direction. Put your foot on the accelerator and gun it".

Clinton pointed several mistakes on MacCain´s policy. According to Clinton his priority on cutting taxes on the largest corporations is simply out of touch, as Americans workers are working hard to avoid foreclosure, to pay for gas, tuition fees and doctor bills. Clinton said that she was right from the beginning about the foreclosure crisis, while Bush and McCain refused to acknowledge that there was a crisis until it spiraled out of control. She said that Sen. McCain was spending his more time attacking and criticizing Democrats for trying to find solutions for the mortgage crisis, than finding solutions himself.