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    Frizz1975's Avatar
    Frizz1975 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 13, 2008, 09:27 AM
    Maine Real Estate Foreclosure
    Here is the situation, a friend of mine is currently awaiting an auction on Thursday June 19th and I think that he hasn't been given his legal right. They filed the original procedure with the court to start the process but as far as the rest of his legal rights, he hasn't gotten that.

    He signed the contract with a private auction company, whereas the bank really should be the client not him, the bank has not filed a public notice of the sale within the required time frames, he has not been issued the notice of sale in writing etc.
    This property was financed by a trust and not a legal bank but I think that the process still has to go through the legal way.
    There isn't a shierff's sale, going through a private auction company. Shouldn't it have to be done as a shieriffs sale seeing that it went through the courts for the rest of it.
    Can he stop the process right now seeing that he signed the contract with them and would that mean that the bank would have to start the auction process over again by advertising it within the required time frames and sending him the right notices etc.
    Did he waive his rights by signing with the auction company?

    Any help you can provide would be excellent. He is losing everything and needs help quickly.
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
    Ultra Member
    		  
    #2

    Jun 20, 2008, 08:07 AM
    Welcome to AMHD. Check this: Maine Foreclosure Laws
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jun 20, 2008, 08:11 AM
    Since the auction was scheduled for yesterday, this advice may come too late. But he should seek an attorney's advise to determine whether his rights have been adhered to.
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