February 29, 2012
AUGUSTA – The Maine House took initial votes to pass a bill, sponsored by Rep. Bobbi Beavers, D-South Berwick, that would give protections to homeowners in foreclosure proceedings and provide more clarity and streamline the process.
The House voted 90-54 for initial passage of the bill on Wednesday.
If finally passed, the bill would require the entity foreclosing on a home to show proof that it owns the mortgage note preventing potential fraud against homeowners.
“This is a simple bill that will help protect Maine homeowners in foreclosure from the widely reported abuses of the national mortgage services,” Beavers said. “Maine families are struggling to make ends meet and keep a roof over their heads. This bill shows them that lawmakers in Augusta have their back.”
The bill would help prevent large mortgage companies from foreclosing on homes they may not have legal ownership of. It would require the banks to present the original mortgage note before court proceedings.
“Some big bank lobbyists worked to kill this bill,” Beavers said. “I’m proud that my colleagues stood firm with the homeowners of Maine and kept this bill alive.”
The Senate is expected to vote on the measure as early as this week.
Jodi Quintero [Beavers], 287-1488, c. 841-6279