How long does the foreclosure process take?

The length of time that it takes for a foreclosure process to finish can vary in New Hampshire. As a general rule, the entire process can take anywhere from four to 18 months. The foreclosure process in New Hampshire begins when a homeowner fails to make payments on their mortgage loan and falls into default, usually after being delinquent on payments for three to four months. The lender will then initiate legal action by filing a complaint with the county court and issuing a public notice. This complaint will include the lender’s cause of action and the amount of mortgage-related debt owed by the homeowner. Once the complaint has been filed, the homeowner has about 30 days to answer the complaint and explain why they have not made payments owed. If the homeowner fails to respond within the specified timeframe, the lender can then move forward with the foreclosure process. Depending on the outcome of court proceedings, the foreclosure process can take up to 18 months to be completed. If the court rules in favor of the lender and the homeowner fails to pay the mortgage debt or surrender the property, then the court will issue a judgment of foreclosure. The lender can then proceed to sell the property in order to recoup their losses. If the homeowner does not defend against the foreclosure, then the foreclosure process could be as short as four months. In summary, the length of the foreclosure process in New Hampshire can vary greatly, and can take anywhere from four months to 18 months.

Related FAQs

Are there defenses to a foreclosure?
What are the differences between foreclosure and pre-foreclosure?
What are the legal consequences of a foreclosure?
Can I still make payments on my loan after a foreclosure sale?
What are the foreclosure statutes in my state?
How long do I have to stay in my home after a foreclosure?
How can I protect myself from foreclosure?
What do I need to do to stop a foreclosure proceeding?
What is a deed-in-lieu of foreclosure?
What are the rights of tenants in a foreclosure?

How long does the foreclosure process take?

Related FAQs

Related Blog Posts