Mortgage Default Information

Maine homeowners facing foreclosures get more time

Forbes |

In Brief...

Maine's attorney general has negotiated an agreement with one of the nation's largest mortgage lenders that gives some financially stressed homeowners a reprieve through the holidays.. Attorney General Janet Mills said Wednesday that GMAC ( GJM - news - people ) Mortgage LLC has agreed to temporarily halt the sale of several dozen Maine homes that were foreclosed on and whose owners face eviction. Mills also says Bank of America ( BAC - news - people ) has agreed not to proceed to judgment on any pending foreclosure matters in Maine until it's completed a review of its foreclosure procedures..

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