Establishes a commission to study the foreclosure process in Maine.
This resolve establishes the Commission to Study the Foreclosure Process, a 7-member commission tasked with examining Maine's foreclosure laws and state agency rules. The commission will consider the timelines of foreclosure procedures, the impact of mortgages sold in the secondary market, and ways to mitigate foreclosure issues without compromising consumer protections. The commission must submit a report by December 3, 2025, to the Joint Standing Committee on Housing and Economic Development, which can then propose related legislation.
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