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Maine homeowners to get foreclosure relief in festive season

Shared by Jerry on Tue Nov 30, 2010 2:04 am

In an agreement between Maine's attorney general and one of the biggest mortgage lenders, GMAC Mortgage LLC, homeowners facing financial hardship will receive certain reprieves. It has been agreed that the lender will temporarily stop foreclosure actions against homeowners who are in default. The foreclosure proceedings may be delayed by several weeks unless a decision is taken on the company's foreclosure procedures.

Source: http://www.businessweek.com/ap/financialnews/D9JNRIC81.htm
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Niicss
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PostPosted: Tue Nov 30, 2010 3:15 am    Post subject:

This is really a very good move by the Attorney General of Maine. This will at least help the people to spend a stress free holiday. Moreover, if new relief options are given to the homeowners, then there are chances that a large number of people may not lose their homes.
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