ARDA-ROC Seeks More Foreclosure Options for Maine Timeshare HOAs

2011-02-10

Issue Brief

In 2005, ARDA-ROC and ARDA-New England passed non judicial foreclosure (NJF) legislation in Maine. This process is still in place and continues to be used successfully by Maine-based timeshare homeowners' associations. Recently, ROC learned that an old law was deleted that provided timeshare HOAs a less expensive, if slower, foreclosure process on non-performing weeks.

Impact

Given the high cost of foreclosures, it is vital to preserve streamlined foreclosure procedures that save both time and money.

Position/Call to Action

ARDA-ROC is in the process of gathering legal information and assessing political support. We hope to support legislation that will provide Maine-based timeshare HOAs the same range of foreclosure options previously available. If this is not possible for political reasons, we will work to ensure the bill is delayed for further study in order to resolve outstanding issues. 

Maine timeshare owners and ARDA members should sign up for legislative alerts on www.ardaroc.org (click on "Get Involved," then "Receive Email Alerts") to keep up to date on activities and learn how you can help.

Issue Updates

On February 9 and 10, 2011, ARDA-ROC and ARDA-New England lobbyists met with legislative leadership in Maine to educate them on the issues and to assess political support. Following the meetings, we will be in a better position to determine next steps.

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