Foreclosures continue to climb in Maine
July 6, 2009
By MoneyAisle
According to MaineBiz, Maine has seen an increase in its foreclosures during the first quarter of 2009.
“There were 240 mortgages in the process of foreclosure in Maine at the end of March, a nearly 30% increase from March 2008.”
However, Lloyd LaFountain, superintendent of the Maine Bureau of Financial Institutions, said, “Overall, the level of foreclosures-while tragic for impacted homeowners-does not currently threaten the strength and solvency of Maine-chartered banks and credit unions.”