Maine passed a bill amending postponement and report of sale foreclosure requirements. Under the bill, a foreclosure sale may now be postponed for a period not to exceed 60 days (rather than 7 days). The bill also requires the “report of foreclosure sale” (Report) be filed with the court no later than 90 days after the foreclosure sale, or 45 days after the foreclosure deed is delivered to the purchaser at the foreclosure sale, whichever occurs first. The court may grant additional time for postponement or to file the Report if good cause is shown. In addition, the bill prohibits a lender or servicer from seeking a deficiency judgment if the Report is not timely filed. The bill becomes effective September 20, 2019.
See Maine State Legislature website for the full text of the Statutes: http://www.mainelegislature.org/legis/bills/getPDF.asp?paper=HP1020&item=3&snum=129
