pre-forclosures.com
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Maine State Profile
Maine's employment was little changed in 2005 but construction employment rose. The Maine economy lost 600 jobs from fourth quarter 2004 through fourth quarter 2005, a decline of 0.1 percent. The construction and business and professional services sectors...
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Finding Opportunity in the Maine Real Estate Market: Pre-Foreclosures
For the real estate investor, the notice of default (NOD) or "pre-foreclosure" stage represents an investment opportunity. A pre-foreclosure takes place from the time the bank gives notice of default (NOD) to the time the house is sold at a foreclosure auction. Depending upon state law governance real estate, the time period usually is 90 days into mortgage loan default.
Within this default notice time window, the investor can take action. The main key to pre-foreclosure investing is equity - the remainder between what a house will sell for and what is owed on the house. Pre-foreclosures furnish an opportunity to purchase a house for less than fair market value (FMV), creating immediate equity...
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Your Maine Pre-foreclosure Resource site.
Finding Quality Pre-foreclosure Listings
Finding pre-foreclosure properties can be done by visiting the local recorder's office and making photocopies, since listings are added on a daily basis, this can be daunting. Using the internet, a number of web sites allow searches by state, county, city, and zip code.
All the sites listed below offer listings for a fee. Take advantage of the free trial period offered evaluate their listings. The sites should offer the latest listings with daily/monthly updates. Like with any product, an extensive search for and comparison for available pre-foreclosure list will give you the best price and value for money. As a real estate investor, you can find pre-foreclosure list for free or at a price. Since most pre-foreclosure listing sites offer a free trial period, take advantage to determine if the quality of data and services meet your needs.
| Trial? | Updated? | Rating | Link |
| 7 days | Daily/Weekly | ***** | RealtyStore.com |
| 1 Week | Weekly | **** | Bargin.com |
| 1 Week | Weekly | **** | RealtyTrac.com |
| 7 days | Weekly | *** | Foreclosurenet.net |
| 3 days | Monthly | *** | Foreclosure.com |
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Maine Foreclosure Law
- Judicial Foreclosure Available: Yes
- Non-Judicial Foreclosure Available:No
- Primary Security Instruments: Mortgage
- Timeline: Typically 90 days
- Right of Redemption: Yes
- Deficiency Judgments Allowed: Yes