Paul LePage Vetoes Bill Offering Protection For Maine Homeowners In Foreclosure

Maine Gov. Paul LePage (R) vetoed a bill on Friday designed to increase regulation of foreclosure proceedings.

The bill, which passed Maine's House and Senate with bipartisan support, would have required banks to show proof of ownership or an original mortgage note before foreclosure proceedings, and prevented large mortgage companies from foreclosing on homes they may not have legally owned.

In his veto, LePage said he agreed with the bill's aims but favored increased penalties instead.

“This law would not do anything to shorten the foreclosure process in the state of Maine,” LePage wrote in the veto letter. “Instead, it would add a new burden on our lenders to produce original copies of documents or swear under penalty of perjury why they are not able to. This will simply create more paperwork in the foreclosure process with little benefit for Maine people."

Supporters of the bill disagreed.

"This simple bill would have protected Maine homeowners in foreclosure from the widely reported abuses of the national mortgage companies,” said the bill's sponsor, state Rep. Bobbi Beavers (D-South Berwick), according to the Bangor Daily News.

The veto could be overturned by a two-thirds vote of Maine lawmakers. None of LePage's 15 previous vetoes have been overturned.

Comments

[faithva]

08:02 PM on 03/31/2012

OK Maine legislators. If this bill was passed on a bipartisan basis, then it should be possible for you all to get your acts together and overturn this doofus's veto. This man is a joke and he is making your state a laughing stock, along with other repub ruled states (like mine - Virginia). It is time to stop playing games -- you're hurting your own people, the ones who supposedly elected you so that you could help them and do the best for them - remember?

[calmly2]

11:06 AM on 03/31/2012

Why does the Gov want to shorten the amount of time it takes to foreclose? Does that make sense to anyone?

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[Mr earl]

11:15 PM on 03/30/2012

Can anyone smell a recall coming?

[Mr earl]

11:14 PM on 03/30/2012

Is the guy in the picture in handcuffs? He must be a Bankster. He thinks a bank has the right to repo your house even if the bank has no proof it owns your house. Where do these guys come from? Republican think tanks?

[realsurfin]

11:10 PM on 03/30/2012

Its time the folks in Maine send the GOP a strong message. You will not take the decimation of the middle class for the sole purpose to enrich the already rich. The careless bankers that feel they can run rampant and not be held responsible for their laissez-faire attitude at the expense of the taxpayer and middle class.

Maine needs to VOTE OUT THE GOP IN NOVEMBER ON A LOCAL AND FEDERAL LEVEL. DO NOT LET THE GOP STEAL THE ELECTORAL COLLEGE. WOMEN YOUR RIGHTS AS INDEPENDENT THINKERS AND STEWARDS OF YOUR OWN BODIES COUNTS ON IT TOO.. COLLEGE STUDENTS.. YOU NEED TO VOTE THEM OUT OR YOU WILL NOT BE ABLE TO ATTEND UNIVERSITY.

SEND THEM THE MESSAGE IN NOVEMBER, SEND THEM HOME UNEMPLOYED

[jackson47]

11:09 PM on 03/30/2012

I disagree with LaPage. A person will lose their home thru foreclosure without proof that the servicing bank has ownership. If that same homeowner can prove at their expense that the foreclosure was fraudulent, the bank pays a slap on the wrist fine. How does this veto keep people in their homes and protect them against an out of control banking/lending industry.

[nastywolf]

11:05 PM on 03/30/2012

In most states...get foreclosed on, without the original note made available...and you would still be on the hook if the holder of that original note showed up to demand payment. Double whammy!

[Alexander Forbes]

10:59 PM on 03/30/2012

Gosh, I was able to guess the guv's political party before I was able to scroll down and confirm it. Kind of like guessing which hand contains the bowling ball.

[Celebrindan]

10:56 PM on 03/30/2012

How much did they pay him for the veto?

Tar and feathers...

[movin2montana]

10:55 PM on 03/30/2012

Can you say "One Term"?

[Raymond Foret]

11:20 PM on 03/30/2012

The sad realization is that the people of Maine will FORGET this and reelect this fraud. To many people have no idea how disastrous this is. When someone can toss you out of your home because "they say they own your house" WITHOUT PROOF there is something seriously wrong. Of course we all knew this LePage is a teapublicrap with no regard for the masses of workers that elected him to office, if those people would have been intelligent enough they would have seen how disastrous his actions would be. VOTE THE TEAPUBLICRAPS OUT AND FIX THE MESS THEY HAVE CAUSED.

[henrypapillon]

10:54 PM on 03/30/2012

What is it with all the Republicans who seem to be consciously going after the middle and lower classes to take away anything good and to deny any remedy?

[Pyrrhus]

10:53 PM on 03/30/2012

Is it really necessary to place an R next to the guy's name? After all, we all know these kind of acts of valiantly saving the 1% are from one side of the aisle.

[shrimperdan]

10:49 PM on 03/30/2012

This man has been a disgrace since he took office. Most of us here in Maine are disgusted by his words and actions.

[jackson47]

11:12 PM on 03/30/2012

Why did he take down the labor mural?

[shrimperdan]

08:49 PM on 04/01/2012

because he is a blow hard idiot and anti labor...

[DDay52]

10:40 PM on 03/30/2012

Are you happy TeaBaggers? It was YOU who put this Nut into office. Now EVERYONE suffers!