Stop New Hampshire Foreclosure
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Foreclosure is a very serious matter, your now receiving all sorts of letters in the mail from different companies all telling you that they can help you. They could be all very confusing. If you've noticed, they all want you to do one of the following, so let's go over each of them one at a time.
Just Walk Away
It has come to our attention that some organizations are advising people on the phone and by mailers to home owners, to just walk away and let it go to foreclosure. It appears the organizations behind this campaign may be groups of investors that want to buy your property cheap at auction. This can be devastating for home owners in many states, as the home owner is responsible for the deficiency, which means if you owe $225,000 on your loan, and your home sells for $100,000 at auction, you're on the hook for the $125,000 difference. They can garnish wages to get it. This means the investor gets a great deal and the homeowner gets a huge bill as they are being kicked to the curb.
Private Investors/Lenders:
They will tell you that they will bring your mortgage current and payoff all back fees to save your home, and they will too, for a price of coarse.
In order for them to do that you must " quick Deed" (sign over your home to them in their name). In turn they will gladly lease your home back to you with 15-20% higher payments for maybe 1-2 or 3 years until they have made their investment back. Then they will agree sign your home back to you. Sounds good so far right? But here's the trick.
In the contract that you sign, always somewhere in the fine print. It will say if the leasee (you) are 24 hours late with your monthly payment within the duration of your contract, that the lessee (you) must evacuate the premises. Usually within 5 - 7 days. Over 90% of homeowners that fall for this trick end up losing there homes. These investors all know that you've had payment problems in the past, that's why they prey on homeowners in your situation. Next thing you know your family is out on the street, with no home or hope and the investor just tricked you out of your $150,000 home that cost them only $4,000 to $5,000 so PLEASE BEWARE, don't do it.
New Loan:
you to take out another loan (it sounds good on the surface but you'll pay much, much more in the long run). You have to start of a new loan from the beginning, you eventually lose all of your equity. All of your past payments are just wasted. You gain nothing. Don't fall for it.
Bankruptcy:
Don't do it! It will only save your home temporarily. Big rouble awaits you around the corner. Everyone says "file for bankruptcy it's easy don't worry we can get you squared away". Yea right. Do yourself a huge favor Don't do it!!
If you truly would like to save your home and have your case handled correctly, call the professionals. We will evaluate your case for free and inform you of your rights as a homeowner. We will introduce you to the many options that are available to save your home. To get your free evaluation either fill out a short questionier by clicking here or call now, 1-888-209-1424. | |
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New Hampshire Foreclosure Process |
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Foreclosure Process |
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When you develop a definite plan of action with well-timed,
well-informed steps, you can stop the foreclosure process and save your
home. We have outline the foreclose process for the state of New
Hampshire .
New Hampshire
New Hampshire has two broad classes of mortgage foreclosures:
- foreclosures made on mortgages without power of sale clauses
- foreclosures made on mortgages with power of sales clauses.
Foreclosures made without power of sale clauses are conducted similar
to strict foreclosures, in which the lender must work to obtain
possession of the premises. Foreclosure made with power of sale clauses
revolve around giving the proper notices and conducting proper foreclosure
sales.
Although mortgages with power of sale clauses are much more common
than those without, it is still possible to have a mortgage without a
power of sale clause in New Hampshire. In this event, the foreclosure
works much like strict foreclosure in other New England states. In order
to foreclose, a lender must recover possession lawfully, and hold it for
a required length of time (one year in New Hampshire), before title
becomes final in the name of the lender. There are three ways to recover
possession.
- In entry under process, the leader files a lawsuit and obtains a
court order authorizing entry.
- In entry and subsequent publication, the lender peaceably enters
the premises and continues occupation for a year. An affidavit from
the party and witnesses as to the time, manner and purpose of the
entry should be recorded. A notice stating the time at which the
possession by the lender for the purpose of foreclosure was
commenced should be published three weeks successively, with the
first publication to be at least six months before the right to
redeem would be foreclosed. The notice should give the date of the
mortgage and a description of the property. A copy of the notice,
and a sworn affidavit as to when; where and how it was published
should also be recorded.
- In possession and publication, the lender already is in possession
and simply publishes a notice stating that from a certain day
forward, the lender retains possession because the mortgage
conditions were broken by the borrower, and that the purpose of the
lender’s continued possession is foreclosure. The date of the
mortgage and a description of the premises should also be stated.
The day stated in the notice should be not later than four weeks
after the initial advertisement. The notice should be published in a
newspaper of general circulation in the county where the real estate
is located. A copy of the notice and an affidavit stating when,
where and how it was published should be recorded.
It is possible to foreclosure a mortgage with a power of sale clause
in New Hampshire by filling a lawsuit in court and obtaining a court
decree commanding the sale of the property, with a confirmation of the
completed sale by the court. On the other hand, it is much more common
to publish and serve notice of a foreclosure sale in the proper manner,
and then sell the property at the sale to the highest bidder.
A foreclosure sale without court action must be preceded by the
appropriate notices. The borrower must be sent a notice at least 25 days
before the sale. The notice should contain the following warning:
"You are hereby notified that you have the right to petition the
Superior Court for the county in which the mortgaged premises are
situated, with service upon the mortgagee ( lender), and upon such bond
as the court may require, to enjoin the scheduled foreclosure
sale." Unless the borrower sues prior to the foreclosure sale, the
borrower may not challenge the foreclosure in court at a later date. The
lender should also publish a notice of the foreclosure sale once a week
for three weeks in a newspaper of general circulation in the county or
town where the property is located. The first publication must not be
less than 20 days before the foreclosure sale.
The actual foreclosure sale must be held on site at the house or on
the real property that is being foreclosed, unless the mortgage
specifies a different location. A report of the sale must be made in ten
days. The person who sells the property at the foreclosure sale must
record the deed, a copy of the notice of sale and an affidavit
describing the sales procedure to be recorded within 30 days of the
sale. Title passes with the recording of the deed. |
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