Foreclosure Law Attorney in New Hampshire
The foreclosure process can be scary and stressful for any individual or family. If there is the potential for foreclosure on your home or if the process has already started, you need to be aware of the foreclosure laws in New Hampshire. The Law Office of Joseph M. Annutto can help explain the laws and find the most effective and beneficial way to deal with your home foreclosure situation.
Types of Foreclosures
In New Hampshire, there is both judicial and non-judicial foreclosure. It is vital to know which one can be or has been filed against you.
Judicial foreclosure is when a lender files a complaint in court. The court issues a decree of sale before the foreclosure process can begin. In this situation, the court can give the homeowner a set time period to catch up on payments. If the homeowner misses the payments or simply doesn’t pay, the court can then order the property to be sold.
Non-judicial foreclosure entails a clause in a mortgage agreement. A mortgage agreement between a homeowner and lender may have a Power of Sale Clause. This clause means foreclosure can be sought and executed without court involvement. The lender has the right to sell the property. The lender must send a certified notice of sale to the homeowner at least 25 days before the date of sale. This is much quicker than a judicial foreclosure.
You can avoid a home foreclosure if a Chapter 13 is filed. This will stop the sale and cancel the foreclosure. A timeline is set for the homeowner to pay back the missed or late payments and regain financial footing, while staying in the home.
Foreclosure laws can be complicated for the average homeowner. Plus, many facts about the foreclosure process are often misunderstood and many myths still surround the process. Knowing the latest laws and the process in general is vital for a homeowner. Attorney Joseph M. Annutto can separate fact from fiction and explain how foreclosure laws may impact your particular situation. Let us hear the details of your foreclosure and see how we can help either save your home or help you move forward after a home foreclosure. With compassion and a dedication to protecting your rights, our firm can help you through this difficult time.