Foreclosure Defense in Manchester, NH
Are you currently facing a threat of foreclosure in Manchester, New Hampshire or are already going through proceedings? Consult with an experienced foreclosure defense lawyer to find out what your options are to save your home.
What Is Foreclosure?
The foreclosure process starts when a Manchester, NH homeowner misses a mortgage payment. Lenders cannot initiate foreclosure until the payment is at least 120 days overdue. Additionally, within 45 days of a missed payment, the lender is required to inform the homeowner of loss mitigation options that could prevent foreclosure. If the homeowner does not resolve the payment issue, the lender can proceed with foreclosure, ultimately selling the home to recover losses per the mortgage agreement.
Foreclosure By Power of Sale
The power of sale is a clause in the mortgage or deed of trust. It states that the lender can foreclose without court oversight. The majority of New Hampshire foreclosures are nonjudicial. Under New Hampshire law, a lender in Manchester is required to notify the owner of the foreclosure sale by certified mail at least 45 days before the sale date. In addition, a notice of the foreclosure sale must be published in the local newspaper for at least 3 consecutive weeks. If the lender can prove that you meet these criteria, they can sell the foreclosed home.
Foreclosure By Judicial Sale
Judicial foreclosure is the process of selling a mortgaged property under the supervision of the court. The court prioritizes paying off the mortgage debt first, followed by any other lien holders, and finally the lender. This process demands that the lender strictly adhere to legal procedures, ensuring that the buyer of the foreclosed property receives a clear and legally valid title.
Types of Foreclosure Defenses
If you’re in the process of foreclosure, you’ll want to do everything in your power to stop the foreclosure. Here are common foreclosure defenses your Manchester attorney might recommend.
The Bank Didn’t Follow State Procedures
The foreclosure process is complicated and time-consuming; oftentimes, that leads to errors. If the bank or other lender didn’t follow Manchester, New Hampshire foreclosure procedures, you might have a good case for stopping the foreclosure.
The Mortgage Servicer Made Mistakes
Mortgage services can make mistakes when handling homeowners’ accounts. Here are some of the most common mistakes to look out for:
- Dual tracking, which means pursuing foreclosure at the same time a different loan modification is pending
- Sending your mortgage payments to the wrong party
- Overstating the amount of money you owe for your mortgage payments
- Imposing excessive fees for late payments that weren’t stipulated in the mortgage contract
If you think the mortgage servicer made these or other mistakes, contact an attorney in Manchester, NH right away to help you stop the foreclosure process. This is one of the best options available to help you save your home.
You’re on Active Duty
The Servicemembers Civil Relief Act (SCRA) offers specific protections for those on active duty, ensuring lenders in Manchester cannot foreclose on a home without going through the court. This law allows you to present a defense, ideally with guidance from an experienced foreclosure attorney.
A key protection under the SCRA is that if you obtained your mortgage before entering active duty, the foreclosure must go through the court, even if out-of-court foreclosure is typical—unless you waive this right.
The Foreclosing Party Lacks “Standing”
The foreclosing party is the party that owns the loan. If the lender can’t prove that they own the loan, then that means they lack “standing”. They then can’t foreclose the home.
This happens a lot because banks often bundle your loan with other loans and sell them to other banks or investors. This can make it difficult to track who exactly owns the loan for your house.
The Statute of Limitations Has Passed
The statute of limitations protects homeowners from foreclosure if a significant amount of time has passed since they stopped making their mortgage payments. Believe it or not, some mortgages or missed payments do slip through the cracks.
New Hampshire Law imposes a 20-year statute of limitations on foreclosures in Manchester. The 20-year time limit typically begins on the date of the default on the loan.
Additional Foreclosure Defenses
Here are some less common foreclosure defense options:
- You’re already making payments on a loan modification, which means the foreclosure should not have been initiated.
- You believe the lender violated federal regulations if you have a VA, USDA, or FHA loan.
- You never received a breach of contract letter from the lender informing you of the violation of your mortgage contract or deed of trust.
Preparing for the Foreclosure Defense Process
When an attorney takes on your case in Manchester, New Hampshire, there’s no guarantee of winning, but your odds just improved. Every foreclosure case is different, demanding a solid grasp of state-specific foreclosure laws. An experienced attorney understands the court process and can identify any opportunities that might work in your favor.
If you live in a state where foreclosures always happen in civil court, your attorney will simply bring any issues with the foreclosure up to the judge. If you live in a state where foreclosures typically happen outside of the court system, you and an attorney may have to start the judicial process by filing a lawsuit against the at-fault party. Foreclosures in Manchester, New Hampshire are under the jurisdiction of the Hillsborough Superior Court. Even if you cannot stop the case, the attorney can help you stall the process while you get your affairs in order.
Work With an Experienced Foreclosure Defense Lawyer in Manchester, New Hampshire
Even if you feel you don’t have a viable case, an attorney may find solid grounds for fighting the foreclosure. Consulting with an Manchester, NH attorney is an objective way to find out if your case is worth going to court. Most first-time consultations with a lawyer are free, which means there’s no risk involved.
Take the first big steps toward fighting to keep your home. You can also delay the process for as long as possible until you find a new one. We can even help you connect with an attorney across New Hampshire state lines.
Submit a request online or call us today at (866) 345-6784 to get in touch with an experienced lawyer in your area!
About the Author
Aaron is a professional legal writer with a B.S. in English Education from Southern Illinois University – Carbondale. He has written, published, and edited thousands of legal articles for RequestLegalHelp, which has connected over 5 million people to legal help in the United States.
With over five years of experience writing thousands of legal articles for law firms across the U.S. and Canada, Aaron specializes in covering federal, state, and city-level legal issues ranging from auto accidents to wrongful terminations.
Answers to legal questions can often lead to more questions. If you’re seeking more about an area of law in Manchester, NH, we’ve got you covered.
