Maine Foreclosure Law

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Maine Foreclosure Laws

Typical Maine Foreclosure Time Frame – Typical time in Maine foreclosure is 90 days, however some foreclosures can last up to one year.

Judicial Foreclosure – Yes

Non-Judicial Foreclosure – No

Types of Security Instruments – Mortgage

Right of Redemption Period – Mortgages written before 1975 have a three-month redemption period, mortgages written after 1975 have a 12-month redemption period.

Maine foreclosure laws provide for judicial foreclosures, but no non-judicial foreclosures.  The typical process in Maine is a bit different from other states because the lender is able to retain ownership of all property until the mortgage is satisfied or pain in full.  Once the borrower pays off the mortgage ownership rights are transferred to the buyer.  Because of this, a Maine foreclosure is simply a matter of taking possession of the property, rather than transferring ownership back to the lender.

According to Maine foreclosure law, if the borrower goes into default, or violates any of the terms and conditions of the mortgage, the lender is able to foreclose on the property and the borrower will lose any and all rights. 

In Maine, the lender is required to file a suit for Order of Sale with the courts as a first step to foreclosure.  Once this has occurred the lender must then wait until the right of redemption period is over, which for pre-1975 mortgages is 3 months and for post-1975 mortgages is 12 months.  Once this period expires, the sale is allowed to proceed by following the instructions that the court gives.

A Notice of Sale is required to be mailed to the borrower; in addition, it is required under Maine foreclosure law that a copy of the notice be published in the local public newspaper at least once a week for a minimum of three consecutive weeks.  The first publication is not allowed to be any more than 90 days after the redemption period expires.  In addition, the sale may not be any sooner than 30 days, nor any sooner than 45 days after the first published notice that runs in the paper.

Maine foreclosure laws do allow the lender to sue for a deficiency judgment; however, they are limited to only suing for the difference between the sale price of the home and the appraised value of the property when it was appraised.

For more information on Maine foreclosure laws click here.


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The information found on this site is not intended to be legal advice. The foreclosure process is highly case specific and laws vary throughout the United States. Please seek professional legal counsel before entering into any contract regarding any real property or stopping the foreclosure on any real property. By using this site you consent to the terms posted here.