New Hampshire Foreclosure
New Hampshire Foreclosure law has special provisions for foreclosure. Apart from judicial and non judicial foreclosure, it provides for entry under process, entry and publication and possession and publication. Deed of trust and mortgage are instruments of security while right of redemption is not allowed but deficiency judgment is. Time line varies but typically is 60 days. Judicial process is similar to New England’s and is strict foreclosure. Lender obtains decree of sale by filing complaint of default. Borrower is given time to pay delinquent amount before sale. Lender can bid amongst others. Non judicial procedure is guided by power of sale and/or its guidelines for clearer procedure. Notice containing warning the borrower, specific details of property, default and the borrower himself is served on him or her 25 days before sale and published in news papers for three weeks once a week with publication more than 20 days from the sale. Sale is held on the property itself unless specified otherwise by power of sale.
Special foreclosures:
1. Entry under process – Lender enters the property as a stamp of foreclosure under process of law and maintains possession till a year.
2. Peaceable entry – More humane procedure this. Entry and possession of the property for a year and notifying borrower and court by mail, news paper advertisement only after borrower’s right to redeem expired. Advertisement is for three weeks and first one should appear 6 month before expiry of redemption power.
3. Possession and publication – The in-possession lender publishes notice to effect New Hampshire foreclosure from a certain day. Noticing procedure is more or less similar – three weeks of advertisement in local news paper containing details of lender, borrower, mortgage and property. And
under lender’s intention to possess property for one year.
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