New Hampshire Foreclosure Laws
Expected Timeline: Two to three months
Security Instrument: Mortgage or Deed of Trust. Mortgages most common.
Type of Process: Judicial or nonjudicial. Judicial foreclosure most common.
Protections for Servicemembers: N.H. Rev. Stat. Ann. § 540-11-a
Time to Respond: Lender must file lawsuit in court, then obtain a Decree of Sale. Court gives homeowners a set period of time to pay delinquent amount of loan plus costs.
Reinstatement Period: None in nonjudicial foreclosure.
Protections for High-Cost Mortgages: None.
Redemption Period: None.
Eviction Process: Former owners must be given a thirty day notice to quit property. After this expires, new owner may bring eviction lawsuit. Former owners have seven days to respond to lawsuit.
Deficiency Judgments: Allowed if brought in separate lawsuit after sheriff sale.
Limits on Deficiency Judgments: Allowed if action is brought in court after sale.
Cash Exempted in Bankruptcy: $11,000 for single person, $22,000 for married couple.
State Statutes: N.H. Rev. Stat. Ann. § 479.25
New Hampshire foreclosure law allows both Judicial and Non-Judicial foreclosure processes to be followed. The Judicial Foreclosure process requires the lender to sue the borrower in court to obtain an order to foreclose. The court will give the borrower a set period of time to cure the default, but if the borrower can not pay the amount due, the property is ordered to be sold. The property may also be ordered to be foreclosed by possession by the lender.
The Non-Judicial Foreclosure process is used when the original loan documents contain a power of sale clause authorizing the lender to sell the property in the event the borrower defaults.
At least twenty-five (25) days prior to the sale, the notice of sale must be sent to the borrower by certified mail or registered mail. The notice must also be published in a weekly newspaper of general circulation in the county in which the property is located for three (3) consecutive weeks. The publication of the notice must begin at least twenty-one (21) days prior to the sale.
In New Hampshire , the borrower has no right to redeem the property after the sale date. Also, the lender is able to sue the borrower for a deficiency judgment in the event the sale price is not of a sufficient amount to pay the loan balance due plus costs.
State Website: www.state.nh.us