Gov. Paul LePage reveals whose side he is really on in his veto of L.D. 145, An Act to Clarify and Streamline Foreclosure Proceedings.
Instead of protecting the little guy, the governor vetoes this bill, passed with nearly unanimous legislative support. All the bill does is to require the bank to, upon request of the homeowner, either produce the original mortgage note or swear to the reasons why they could not produce it.
LePage claimed this “burden” would slow down the foreclosure process, and slowing down the process was bad for business. Instead of ensuring that the bank, which often obtains ownership of the mortgage through a series of sales and resales of the underlying note, is the true owner, something any reasonable person would think they should be able to do, our governor sides with the banks over homeowners.
Jack Comart
Readfield
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