Maine homeowners facing foreclosures get more time
AUGUSTA, Maine -- Maine's attorney general has negotiated an agreement with one of the nation's largest mortgage lenders that gives some financially stressed homeowners a reprieve through the holidays.
Attorney General Janet Mills said Wednesday that GMAC Mortgage LLC has agreed to temporarily halt the sale of several dozen Maine homes that were foreclosed on and whose owners face eviction. Mills says nearly 100 properties may be affected.
Mills says the foreclosures may be delayed several weeks pending further talks over the company's foreclosure procedures.
Mills also says Bank of America has agreed not to proceed to judgment on any pending foreclosure matters in Maine until it's completed a review of its foreclosure procedures.
The agreement with GMAC comes amid concern that lenders mishandled the paperwork in a number of foreclosures nationwide. Bank of America and others have agreed to a temporary moratorium on foreclosure proceedings in many states, including Massachusetts.
Globe staff contributed to this report.