New Hampshire Foreclosure Process

Your home mortgage payment is the most important monthly bill that you have. If you do not make the payment then the lender will start the New Hampshire foreclosure process with an intention of taking your home away.

Buying a home is one of the most wonderful and biggest decisions that people make. When people go through the New Hampshire foreclosure process it is devastating and embarrassing because it is public knowledge. The last thing that you want to do is lose your home to a foreclosure because you were floating bills and chose to put off the mortgage payment. It is the one bill you should never put off and it is the biggest asset that you can own. The equity in a home can look very good for you but a foreclosure can ruin you financially.

The New Hampshire foreclosure process can take up to a full year to complete. The bank will have to begin the process with filing a notice of default through the courts, give you time to get caught up, and then auction the home. This entire process can take a year in some cases. If you want to save your home, you can file bankruptcy to stall the foreclosure process and buy more time for yourself to come up with the money.

If you have been through the New Hampshire foreclosure process it will appear on your credit report. A foreclosure never looks good on your credit and will remain there for many years. There are ways to avoid having a foreclosure on your credit report which include selling the home prior to the foreclosure from occurring or talking to the lender about a deed in lieu. These are two ways to save you financially from the burden of a foreclosure on your credit report.

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