Can a lender foreclose on a rental property?

In New Hampshire, a lender can foreclose on a rental property. The New Hampshire foreclosure process begins when the homeowner or the lender files a complaint in the superior court and posts a notice of the foreclosure sale in a public place. The foreclosure sale must be conducted after 21 days. The lender or the borrower may bid on the property, and the highest bidder will win the property. It is important to note that the lender does not have to bid on the property in order for it to be sold. This means that a lender can foreclose on a property even if they do not wish to purchase it. If the property is sold to a third-party purchaser, the lender will receive the funds at the sale and the mortgage debt is satisfied. In some cases, a lender may utilize a "power of sale" foreclosure, which is an alternative to judicial foreclosure. This process allows the lender to foreclose on a rental property without going through the court system. In New Hampshire, the lender must provide the borrower with a written notice of intent to foreclose at least 30 days before the foreclosure sale. The notice must inform the borrower of their right to redeem the property within 30 days of the written notice. In general, lenders can use the foreclosure law in New Hampshire to foreclose on rental properties, and the foreclosure process is similar to that used for other types of properties.

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Can a lender foreclose on a rental property?

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