Timeline:
60 Days
Redemption:
No
Deficiency
Judgments: Yes
Judicial
Foreclosure: Yes
Non-Judicial
Foreclosure: Yes
Security
Instruments: Deed of Trust, Mortgage
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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.
New Hampshire Foreclosure Law