Governor signs foreclosure law, calls it horrible
AUGUSTA, Maine (AP) — Maine’s Republican governor has signed legislation to protect seniors facing foreclosures but calls it a “horrible, horrible bill.”
Gov. Paul LePage signed the bill into law Tuesday but is criticizing lawmakers for removing protections he called for.
LePage’s original proposal created a pre-foreclosure process aimed at protecting seniors facing municipal foreclosure for the non-payment of taxes. The Maine Municipal Association called that process onerous.
Lawmakers amended the bill, which now requires a town to contact three realtors to see if they can handle the property’s sale.
The legislation also requires the senior to receive any proceeds from a sale above the amount owed in taxes.
The governor says seniors can still be forced out of their homes without guarantee of receiving the equity.