- Who sends it
- The lender, which files it with the court and mails a copy to your last known address
- What it starts
- 30 days after you receive it to contest the accounting by motion
- Do this first
- Write down the date you received it, then check the sale price, costs, surplus and any deficiency
What this report is in Maine
After the public sale, the lender takes out the costs of the sale and pays the rest as the judgment orders. It must then file a report of the sale and how the money was paid out with the court, and mail a copy to you at your last known address (14 M.R.S. § 6324).
The report must be filed by the earlier of 90 days after the sale or 45 days after the lender delivers the deed to the buyer, unless the lender asks the court for more time, for good cause, before the deadline.
What it does and does not mean
- It does not need court approval to take effect, but you and other parties can challenge it.
- A challenge is for money only. It cannot undo the sale or the buyer's title.
- If there is a deficiency (the sale did not cover what the court found due plus sale costs), it is assessed against you in the same case and the court issues an execution for it.
- If the lender itself bought the home, any deficiency is limited to the amount due plus interest and sale costs, minus the home's fair market value at the time of the sale, based on an independent appraisal.
- If the lender files the report late, it has no right to seek a deficiency judgment.
- Any surplus belongs to you or your heirs. If you never appeared in the case yourself or through a lawyer, the surplus goes to the clerk of courts, who holds it for 6 months and then sends it to the Treasurer of State as unclaimed property.
The deadline it starts and how to count it
- You have 30 days from the day you receive the report to file a motion contesting the accounting (14 M.R.S. § 6324). Write down the date it arrived and count 30 calendar days.
- Check the lender's own deadline: count 90 days from the sale and 45 days from the deed delivery. The earlier one is the filing deadline. A late filing ends the lender's right to a deficiency.
- If the surplus went to the clerk, it is held for 6 months. Contact the clerk well before that ends.
What to do this week
- Compare the sale price, the sale costs and the amount paid to the lender with the judgment amount.
- If the lender was the buyer, look for the independent appraisal of fair market value. If none is shown, ask a lawyer about it before the 30 days end.
- If the report shows a surplus, ask the lender or the clerk in writing how it will be paid, and give your current mailing address.
- If something looks wrong, call Pine Tree Legal Assistance or a lawyer right away about filing a motion within 30 days.
- Keep the report. It may matter for taxes; see Forms 1099-A and 1099-C.
Free help in Maine and scam warnings
Pine Tree Legal Assistance and the Maine State Bar Association Lawyer Referral Service can review the report with you. See the Maine foreclosure help page.
- Surplus money attracts finders who ask for a cut. You can claim surplus from the lender or the clerk yourself, without paying anyone.
- Once money reaches the state as unclaimed property, Maine law makes a fee deal to recover it void if signed in the first 24 months after the transfer (33 M.R.S. § 2201), as explained on the surplus page.
The rest of the Maine process
See how foreclosure works in Maine, the timeline, ways to stop it and free help in Maine.
Common questions
How long do I have to challenge a Maine report of sale?
30 days after you receive it. You file a motion in the foreclosure case, and the challenge can only be about money, not the sale itself (14 M.R.S. § 6324).
What if the lender never filed the report on time?
If it did not file within the earlier of 90 days after the sale or 45 days after delivering the deed, and did not get an extension before the deadline, it has no right to seek a deficiency judgment against you (14 M.R.S. § 6324).
Where is my surplus if I never answered the case?
With the clerk of courts, who holds it in escrow for 6 months for you or your heirs. After that it goes to the Treasurer of State as unclaimed property (14 M.R.S. § 6324).
Other Maine letters
- Notice of Default and Right to CureIn Maine, your lender cannot speed up the loan or start a foreclosure case until at least 35 days after it gives you a written notice of your right to cure. If you pay the past due amount in the notice by its deadline, the loan goes back to normal as if the default never happened. A second letter from the state usually follows within days.
- Foreclosure Summons and Complaint, with the Response to Complaint and Request for Mediation formThe summons and complaint start the court case your lender must win before it can sell your Maine home. A one-page Response to Complaint and Request for Mediation form is attached to the front. Returning it within 20 days after you are served counts as your answer and gets you into court mediation if you live in the home.
- Foreclosure Mediation Scheduling Notice (Informational Session and first mediation)This notice from the court clerk sets the date, time and place of your Informational Session and first mediation session in the Foreclosure Diversion Program. Mediation must usually be finished within 90 days after the notice is sent, and no final foreclosure judgment can be entered until the mediator's report is done. Missing a session can send your case back to the regular court schedule.
- Judgment of Foreclosure and SaleA Maine judgment of foreclosure and sale says the lender won the court case and states how much you owe. It does not end your ownership that day. For most mortgages you then have 90 days to pay the judgment amount and keep the home, and you can stay there during that time.
- Notice of Public SaleA Maine notice of public sale gives the time, place and terms of the auction of your home after the redemption period has ended. It runs in a local newspaper once a week for 3 weeks, and if you appeared in the court case it must be mailed to you at least 30 days before the sale. Your right to redeem has ended, but the lender can still agree to let you pay off or catch up.