Maine Redemption Rights — Reclaiming Your Property After Sale
Reinstatement before sale and statutory redemption after sale — your rights to keep or reclaim your home in Maine.
Pre-sale reinstatement vs. post-sale redemption
| Reinstatement | Redemption | |
|---|---|---|
| When | Before the foreclosure sale | After the foreclosure sale |
| Amount owed | Arrears + fees + costs | Full loan balance + fees + costs |
| Available in Maine | Yes — Maine law requires the lender to send a written notice of default and right to cure before starting foreclosure on an owner-occupied home, and the borrower may cure the default by paying the amounts due within the period stated in that notice; the exact cure period and any later reinstatement right depend on the statute, your loan documents, or an agreement reached (for example, in foreclosure mediation) — confirm the current deadline with a lawyer | Yes — 90 days after judgment (borrower may redeem during the 90-day post-judgment waiting period before sale; sale cannot occur until 90 days after judgment) §14-6322 |
| Effect | Loan continues as if no default | Property returned to borrower; sale reversed |
Reinstatement
Maine allows reinstatement — paying all past-due amounts, fees, and costs to bring the loan current and stop the foreclosure. The deadline to reinstate is Maine law requires the lender to send a written notice of default and right to cure before starting foreclosure on an owner-occupied home, and the borrower may cure the default by paying the amounts due within the period stated in that notice; the exact cure period and any later reinstatement right depend on the statute, your loan documents, or an agreement reached (for example, in foreclosure mediation) — confirm the current deadline with a lawyer.
Statutory redemption
After the foreclosure sale, borrower (mortgagor) or the mortgagor's successors, heirs and assigns may redeem the property within 90 days after judgment (borrower may redeem during the 90-day post-judgment waiting period before sale; sale cannot occur until 90 days after judgment) §14-6322. To redeem, you must pay the full sale price (or the full debt, depending on state law) plus interest and costs. During the redemption period, the borrower may retain possession in some states.
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Frequently Asked Questions
General answers to common questions. Specific outcomes depend on your facts and timing.
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