Under the Maine foreclosure law, the foreclosing party (lender) has to send a notice to the borrower at least 35 days before the foreclosure process commencement.
- Once the court has issued a foreclosure order on the property, the lender has to publish a notice for the public sale of the property in less than 90 days from the end of the redemption period.
- The borrower is entitled to the right to reinstate the foreclosure within 35 days of receiving the notice.
- In some instances, the borrower may also be allowed to reinstate the loan under sole discretion before the property sells.
You can find more about foreclosure types here.