What the law says
- Maine enacted LD 1901 on April 13, 2026 (Public Law 2025, chapter 653). It took effect immediately.
- A provider can't make the agreement until a certified counselor confirms you completed counseling covering eligibility, the agreement's features and costs, your obligations after closing, and alternatives.
- The law also bans mandatory arbitration clauses and requires 90 days' written notice before certain actions against the homeowner.
Who provides the required counseling
The counselor must come from an organization approved by HUD, by a state housing finance agency, or by Maine's Bureau of Consumer Credit Protection.
How our review fits in
The required session covers the basics. Our Offer Review goes further: the true cost of your actual offer at 3, 5, and 10 years, red flags in the contract, and how it compares with the other providers and with a HELOC, home equity loan, or refinance. Many homeowners do both.