Resolve, Establishing The Commission To Study The Foreclosure Process

LD 184 establishes a 7-member commission to study Maine's foreclosure process. The commission, including legislative members, housing representatives, credit unions, and the state housing authority, will examine foreclosure timelines, how secondary mortgage markets affect small lenders, and ways to improve the process without weakening consumer protections. It must submit a report with findings and potential legislation by December 3, 2025, to the Housing and Economic Development Committee. This bill creates a study group; it does not change current law or affect specific individuals.