Maine home foreclosures decrease in 2nd quarter

Maine home foreclosures decrease

AUGUSTA, Maine — Maine officials say there was a decrease in completed home foreclosures during the second quarter, based on figures from state-chartered banks and credit unions.

Bureau of Financial Institutions Superintendent Lloyd LaFountain III also says the number of delinquent mortgage loans declined for the second consecutive quarter.

But total mortgage loans in the foreclosure process increased after holding steady in the first quarter. In general, foreclosure activity at Maine banks and credit unions remains lower than in many other states and it does not pose a threat to the stability of Maine state-chartered financial institutions.

The survey does not include data from financial institutions regulated by Maine.