Foreclosure Time Line

In New Hampshire, most home mortgages have a "power of sale" clause.  

A "power of sale" clause means that the lender can take your home without taking you to court if you are behind in your home mortgage payments. 

Because of this "power of sale" clause allowed in New Hampshire home mortgages, New Hampshire is called a "non-judicial" foreclosure state.

A non-judicial foreclosure in New Hampshire can happen very quickly. 

If you are facing foreclosure, please call the LARC Hotline for more information about how you can fight back to keep our house, call 1-877-399-9995.

Take a look at the following time line from the HomeHelp web site to understand the process:

http://www.homehelpnh.org/timeline.htm

Here are the steps to losing your home:
1. Default: Meaning, you are not current in your payments.
2. You may also incur late fees, penalties and the lender's costs and fees for the lender's attorney for being in default - so being late in your mortgage payments may cause you to incur these $$$additional charges.
3. Bank sends you a notice of foreclosure sale at least 25 days before the foreclosure sale.
4. Lender advertises once a week for three weeks before the foreclosure sale of the date and time the foreclosure sale is going to take place.
5. Foreclosure sale:  An auctioneer on behalf of the lender shows up on your front lawn on the day of the foreclosure sale and auctions off your home. Up to the point of foreclosure sale, you can "reinstate" by paying back the lender all the past due payments, costs, fees, late fees and penalties - again, it is not just paying back the late mortgage payments.
6. Whoever buys your home at the foreclosure sale has 60 days to record the foreclosure deed.
7. Eviction of the homeowner.