In New Hampshire there are a number of special processes which are able to take place to finalize foreclosures. They allow for both the judicial and non-judicial process so both instruments for securing the underlying loan are allowed. These are the Mortgage and the Trust Deed. As the methods of foreclosure vary, so does the time they take to process, but this is anything from 60 day upwards, and much longer if the action is contested or goes to court.
Special methods for non-judicial foreclosures include Possession and Publication, Entry Under Process and Entry and Publication. And unfortunately these special methods can make this process difficult for lay-people to understand.
With Possession and Publication the lender processes a notice stating that from a specific date the property will be held for default. The notice is published according to the guidelines and the notice means the lender will be holding possession of the property for one year. Entry Under Process – entitles the lender to enter the property and maintain possession of it for one year. Entry and publication allows the lender peaceable entry to the property and the right to this entry for one year. If any of these special methods of foreclosure are used, the borrower has rights of redemption, and deficiency judgments are allowed.
The judicial process of foreclosure takes place in a very similar method to that of Strict Foreclosure in that the lender files a complaint against the borrower for court action. A decree of sale must be obtained from the courts, and the court generally allows the defaulter a certain period of time to cure the delinquent loan. If the borrower does not manage to bring the loan current in the time allowed to them, the property is ordered sold and anyone may bid at the auction, including the lender.