Are you at risk of losing your home?
HomeHelpNH provides resources for renters and homeowners who are at risk of losing their home. Click the icon below to learn more.
The foreclosure process can happen quickly, and can be confusing for homeowners. HomeHelpNH is a statewide foreclosure counseling initiative that helps at-risk homeowners find and work with free experienced homeownership counselors to learn their rights and options. For more information, call 2-1-1 or go to www.HomeHelpNH.org.
Foreclousre happens very quickly in New Hampshire. Your lender does not need to take you to court to foreclose.
Act now to protect yourself and your home. Losing your home from a foreclosure will hurt your credit, family, and future ability to purchase a home. If you want to save your home, do not ignore foreclosure notices! The sooner you seek help, the more options you will have.
What should you do?
- Call 2-1-1 or visit HomeHelpNH.org to find a qualified, free homeownership counselor.
- Discuss your options with the homeownership counselor to make an informed decision about your future.
- If you feel your situation requires help from an attorney, or if your counselor recommends it, call 800-639-5290 or apply online to 603 Legal Aid's Foreclosure Relief Project.
Solutions and Options
Some alternatives to foreclosure that a professional homeownership counselor may discuss with you.
– This is when a lender allows you to skip a payment, or allows you to make a special repayment plan. It’s important that you understand exactly what you are agreeing to with this option.
• Loan modification
– Some lenders may be willing to change the terms of your mortgage. For example, they may extend your loan term or reduce your interest rate.
– If you owe more than your property is worth, a short sale may be a good option. A short sale is when you request permission from your lender to sell the property for less than the full balance that is owed.
– If you have equity in your property, selling your home and rightsizing to something you can afford is an option to avoid putting your home at risk.
•Deed-in-lieu of foreclosure
– Your lender may be willing to accept your property in lieu of foreclosure. Giving your home back to the lender will hurt your credit, but it avoids a foreclosure.
– Sometimes bankruptcy, particularly filing under Chapter 13, may help to save your home from foreclosure. Be sure to speak with a legal advisor before pursuing this option. Even if you can't save your home, a homeownership counselor can help you determine your next steps.