The Maine Legislature's Insurance and Financial Services committee is holding work sessions today on eight bills related to real estate and home foreclosure law.
One bill under review, LD 1418, is an emergency act that would clarify the rights of homeowners and mortgagors facing foreclosure. The expansive measure would establish a mandatory foreclosure mediation program within the court system, outline what a mortgagee must include in a notice of foreclosure to a mortgagor and define new rights and procedures for all parties....