An Act To Prevent Foreclosures Without Strict Compliance With Notice Requirements

LD 1444 requires mortgage lenders (mortgagees) to provide homeowners (mortgagors) with a 35-day written notice before starting a foreclosure action on a primary residence. This notice must detail the homeowner's right to cure the default by paying overdue amounts, including interest and fees, before foreclosure proceedings begin. The bill mandates that lenders prove strict compliance with this notice requirement in court; failure to do so results in dismissal of the foreclosure case and bars future foreclosure attempts on that property. The law applies retroactively to all past foreclosure judgments, orders, or dismissals in Maine. It directly affects homeowners facing foreclosure and lenders seeking to enforce mortgage defaults.