Escrow & Title
In Maine, a 'foreclosure by entry and possession' is a historical method of foreclosure in which the lender:
AObtains a court judgment and sells the property
BPeacefully enters the property and maintains possession for 3 years to extinguish the equity of redemption✓ Correct
CFiles a deed in lieu with the court
DImmediately evicts the borrower
Explanation
Foreclosure by entry and possession is a traditional Maine method (now rarely used) in which the mortgagee peacefully enters the property and maintains continuous possession for 3 years to extinguish the mortgagor's equity of redemption.
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