It’s easy to get into financial trouble and get behind on your mortgage, but it isn’t easy catching up on missed mortgage payments. Failing to pay your mortgage can soon result in a foreclosure notice and months of bureaucratic nightmares. You can fight foreclosure or find an alternative to bank seizure but you can’t ignore your problem. Foreclosure moves quickly in New Hampshire, which is why USAttorneys recommends you get legal advice.
Foreclosure process in New Hampshire
New Hampshire is a power-of-sale foreclosure state, so the process moves quickly. That means if you want to a chance to save your home, you need to act immediately and seek out a housing counselor or a foreclosure lawyer. You can get an idea of how the foreclosure process is going to work and what steps you can take to stop foreclosure or come up with a less detrimental solution than foreclosure.
Timeline of Foreclosure in New Hampshire:
30 days after first missed payment lender sends default notice
60 days after missed payment notice of default letter expires and collection efforts begin
90 days after missed mortgage payment a lender must send a Notice of Sale at least 25 days before the sale; collections continue
120 days after missed mortgage payment the lender can hold a foreclosure auction and process of evicting a home owner begins
For a more detailed timeline visit: http://www.homehelpnh.org/wp-content/uploads/2014/03/timeline.jpg.
Foreclosure Alternatives in New Hampshire
Reinstatement of mortgage- If you have valuable assets and are willing to sell them off and bring your mortgage current, including and fines of fees that accumulate, you can ask your lender to reinstate your loan.
Mortgage modification- You can ask a lender if you can modify the terms of your mortgage loan and remain in your home. Allow a mortgage modification lawyer to negotiate for you, so you have a better chance of success.
Personal Bankruptcy-Filing for Chapter 7 or Chapter 13 bankruptcy can stop foreclosure and give you the opportunity to catch up on your mortgage.
For more information about alternatives to foreclosure visit or contact one of the agencies listed below:
U.S. Housing & Urban Development Department
275 Chestnut St # 400,
Manchester, NH 03101
Community Home Solutions, Inc.- Counseling services
14 New Zealand Road
Seabrook, NH 03874
161 Main Street, Littleton, NH 03561
Don’t let yourself go into a tailspin when you get a foreclosure notice. You need to act quickly and get a foreclosure attorney’s advice. You have choices but you need an expert to help you identify the best choice for considering your financial situation At USAttorneys, you can find an experienced team of foreclosure lawyers across the state of New Hampshire. Your first consultation is free and you won’t feel pressured to make a decision right away. You have nothing to lose and will benefit from familiarizing yourself with the foreclosure process.