Question:
My wife and I were just served with foreclosure papers ON 3/13/2020 ( Complaint , Summons etc. ) by Deputy Sheriff. I lost my job several months ago and haven’t been able to find anything as of yet. How long can we stay in our home before we get evicted/foreclosed?
Answer:
Under Maine law, foreclosure of residential mortgages ( 1-4 family ) is by civil litigation. I thought I would answer your question by giving you a forecasted FORECLOSURE TIME TABLE ( actual times will differ , these are projected , estimated dates ):
3/13/20 Complaint Served
4/2/20 Answer is Due ( You can send in a general denial of the Complaint by using a form provided to you by the Deputy Sheriff in your stapled packet if the subject property is your Principal Residence ). If your principal Residence, you can and should request Mediation.
5/20/20 or so , you should have your INFORMATIONAL SESSION followed by your first Mediation. At Mediation, you will be asked to provide significant financial information. The law gives you 21 days to provide this information. You can have an attorney represent you.
6/11/20 Your documents are due to the Lender from you.
7/15/20 Lender is to provide Answer to your request for a Loan Modification or a Short Sale. If agreement is reached, the case will be over. Otherwise…
7/25/20 Notice from the court giving you 90 days to prepare for trial ( this is the DISCOVERY PERIOD )
10/25/20 Discovery Period ends.
12/5/20 Perhaps the earliest date for a Pre-Trial Conference ( generally waived in Cumberland County ). A trial date should soon follow.
2/15/21 Bench Trial ( No jury …the judge decides ). Assume judgment enters within a week.
2/22/21 Judgment enters with a 90 day redemption period ( standard allowed by statute )
5/22/21 Redemption Period expires ( Lender has legal but not actual possess of property although Lender has the right to advance actual possession but seldom done at this point ).
6/30/21 Lender serves notice of foreclosure auction ( must be between 30 and 45 days from Notice date.
8/10/21 Auction occurs
9/15/21 Estimated date for deputy sheriff to have actual possession delivered to high bidder.