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July 1, 2010

More Mainers lose their homes to foreclosure

The Associated Press

PORTLAND — Data from Maine-chartered banks and credit unions shows another increase in the number of people losing their homes to completed foreclosures.

But the first quarter numbers released this week by Bureau of Financial Institutions Superintendent Lloyd LaFountain also contain some good news: The inventory of mortgage loans in foreclosure declined and the number of delinquent mortgage loans declined, as well.

LaFountain says Maine continues to be better off than most other states. He also says the foreclosure rate doesn't pose a threat to the stability of Maine-chartered financial institutions.

The Bureau of Financial Institutions has advice on preventing foreclosure.

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