In a foreclosure situation, the bank may be required to determine the "Net Present Value" of your home. Doing this math can help the lender know whether a loan modification would be in everyone's best interests. The attachment below is the calculator the FDIC posted on its website until recently and the one that Maine mediators are still using
Watch this video to learn some basics about foreclosure in Maine. Then go to our Foreclosure Prevention Toolkit to view more videos and read more detailed self-help information.