New Hampshire Foreclosure Overview
New Hampshire foreclosure is a non-judicial in its foreclosure process The typical foreclosure timeline in the state is 60 days. Deficiency judgements are allowed.
The non-judicial (out of court) process of New Hampshire foreclosure is used when a mortgage contains the Statutory Power of Sale. A “power of sale” clause authorizes the sale of property to pay off the balance on a loan in the event of a default. In mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender.
In a New Hampshire foreclosure, the borrower typically gets the right to:
- receive pre-foreclosure notice
- apply for loss mitigation
- receive certain foreclosure notices
- get current on the loan and stop the foreclosure sale
- receive special protections if you’re in the military
- pay off the loan to prevent a foreclosure sale
- file for bankruptcy, and
- get any excess money after a foreclosure sale.
Notice of Sale & Auction
A Notice of Sale, (NOS), must be mailed to the borrower a minimum of 25 days before the sale. It further must be published once a week for 3 weeks in a newspaper of general circulation in the county where the property is located. The first publication must appear not less than 20 days before the sale. The NOS is required to contain the time, date and place of sale, a description of the property and a “warning” to the borrower which informs them that the property is going to be sold and what rights the borrower has to stop the foreclosure process.
The Notice must also be sent to any other party or entity with a recorded interest in the property within 30 days of the scheduled foreclosure sale as well as the Tax Collector of the City or Town.
According to New Hampshire Foreclosure Law, the foreclosure sale is held on site of the property itself. The property will be sold to the highest bidder. There is no redemption period.