AUGUSTA, Maine (AP) — Maine Gov. Paul LePage has vetoed a bill that supporters said would streamline foreclosure proceedings.
In his veto letter, LePage said the bill would create more paperwork for lenders with little benefit for Maine residents.
Rep. Roberta Beavers, the sponsor of the bill, said it would have protected homeowners by requiring banks to present original mortgage notes or proof of ownership before foreclosure proceedings, to prevent fraud against homeowners.
MaineToday Media (http://bit.ly/H3O0mB ) says bill passed in the Senate by a vote of 32 to 2, and in the House by 90 to 54.
Copyright 2012 The Associated Press.