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ME LD403

Bill

Official Source

Status

Passed

6/10/2025

Primary Sponsor

Daniel Ankeles

Click for details

Origin

House of Representatives

132nd Legislature

AI Summary

  • Requires foreclosure notices to include a fraud warning alerting mortgagors that criminals may pose as legitimate loan modification negotiators to steal money and personal information

  • Directs distressed borrowers to seek assistance from HUD-approved housing counseling agencies or Maine-licensed attorneys

  • Amends 14 MRSA §6111 to add the new warning requirement as a mandatory component of foreclosure notice documentation

  • Signed into law as Public Law Chapter 275 on June 12, 2025, with an effective date of January 1, 2026

Legislative Description

An Act to Protect Holders of Distressed Mortgages from Fraud

Mortgages

Last Action

PASSED TO BE ENACTED, in concurrence.

6/10/2025

Committee Referrals

Judiciary2/4/2025

Full Bill Text

No bill text available