Missed Mortgage Payments – Avoiding Foreclosure

Mary Stewart, a contract attorney for the Foreclosure Relief Project at the NH Bar Association, explains what to do when you fall behind on your mortgage payments.
 
 

 

First off, New Hampshire is a non-judicial foreclosure state.  This means that if you fall behind on your payments, your mortgage company can foreclose without having to go to court, and it can happen quickly! If you fall behind on your monthly payments or even if you anticipate that you may fall behind, it is important to seek out help sooner rather than later.  Ignoring the problem most definitely will not make it go away.  The sooner you act, the more options will be available to you.

Second, don’t go it alone.  In New Hampshire, there are free Home Ownership Counselors available throughout the state.   Home Ownership Counselors are familiar with all the options that may be available to you, including modification and forbearance. They will help you assemble the vast amounts of paperwork needed when working with your lender and take care of transmitting the paperwork to the right person at your mortgage company for review.  Best of all, this service is completely free.

Home Ownership Counselors work all day, every day with people who are in the same situation that you are facing.

Third, if you already have a foreclosure scheduled, it is not too late to get help. However, it is important to act before the foreclosure auction.  The first step is to stop the foreclosure from happening.  This can be done by either filing a complaint in the NH Superior Court or by filing for personal bankruptcy protection.  There are private attorneys throughout the state as part of the Foreclosure Relief Project who will help you with this process. You can meet with an attorney FOR FREE at a Home Retention Clinic, and you may qualify for additional free or reduced fee legal services, depending on your income.

Lastly, no matter what, please don’t be afraid to get help.   Everyone has financial ups and downs.  You are not alone!  For information and guidance on the next step for you, please call the NH Bar Association Foreclosure Relief Project at 603-715-3255.

The NH Bar Association’s Foreclosure Relief Project is supported by funding from the National Mortgage Foreclosure Settlement.

The Lawyer Referral Service of the NH Bar Association partners with the Foreclosure Relief Project by providing referrals for distressed homeowners to attorneys who are specifically trained in foreclosure-related legal matters.  Call 603-229-0002 or request a referral online.