If you’re behind on your mortgage, even by one payment, you probably have more options than you think, but less time than you’d like. This guide covers how the rules work for each loan program, the New Hampshire foreclosure process, and which options can still help.
The short version
- Foreclosure can’t start right away. Federal rules generally keep a servicer from starting foreclosure on your home until you’re more than 120 days behind. Late fees, credit damage and collection calls start much sooner.
- If you’re behind right now, you probably can’t refinance, yet. Conventional, FHA, USDA and most Non-QM loans require the mortgage to be current. Once you’ve caught up, lenders also look at how late you were: a 30-day late may still work, while a 60-day late shuts out most conventional loans for a year.
- There are two real exceptions. A VA IRRRL can refinance a late VA loan with VA’s prior approval. An FHA reverse mortgage (HECM) for homeowners 62+ can pay off a delinquent mortgage if the numbers work.
- New Hampshire foreclosures usually happen out of court. You must be mailed notice at least 45 days before a sale. To challenge the foreclosure, you have to petition Superior Court before the sale date.
- Your first call should usually be to your servicer. Repayment plans, modifications and partial claims are often the best options, and counseling from a U.S. Department of Housing and Urban Development (HUD)-approved housing counselor is free.
What happens when you fall behind on your mortgage?
Foreclosure doesn’t happen overnight. It follows a fairly predictable schedule, and every month you fall behind closes off more options. Here’s a typical timeline for a mortgage on your primary home. Your own note and servicer may differ slightly.
- 30 days behind: do everything you reasonably can to catch up, and if you can’t, call your servicer.
- 60 days behind: don’t wait another day to contact your mortgage servicer.
Late fees add up, missed payments can hurt your credit, and every additional month behind can rule out another option and add inspection and eventually attorney fees to what you owe.
If you owe several monthly payments and send only part of what’s due, your servicer may apply the money, hold it until enough is collected for a full payment, or return it. Even an accepted payment may leave you delinquent. Before sending money, ask exactly how much is needed to bring the loan current, how your payment will be applied, and whether a repayment plan is available.
What does the federal 120-day foreclosure rule actually mean?
The rule comes from the federal mortgage servicing regulations, called Regulation X, §1024.41(f). In plain English: a servicer can’t make the first notice or filing needed to start a foreclosure, in court or out of court, until the borrower is more than 120 days delinquent.
Homeowners with a mortgage on their primary residence. That covers Conventional, FHA, VA, USDA Guaranteed and Non-QM consumer loans alike. Even small servicers, who are exempt from many other servicing rules, must follow the 120-day rule.
Business-purpose loans, such as most investment-property and DSCR loans, and properties that aren’t your primary residence. A servicer can also act sooner in a few narrow cases, like a due-on-sale violation or joining a foreclosure started by another lienholder.
“Day 120 is the point of no return.”
Day 120 is the earliest foreclosure can start. Until the sale, you can usually still catch up (reinstate), apply for help, refinance into a program that allows it, or sell.
The “dual-tracking” protections: why applying early matters
- If you send a complete loss-mitigation application before the servicer’s first foreclosure filing, it can’t file until it has evaluated you and any appeal is finished, or you’ve turned down or failed the offered option.
- If you send a complete application more than 37 days before a scheduled sale, the servicer generally can’t move forward with the sale while your application is being reviewed.
Each program adds its own servicing rules on top of the federal 120-day rule. HUD, VA, USDA and Fannie Mae/Freddie Mac each set a required sequence of options (a “waterfall”) that servicers must go through before foreclosing. The 120-day rule is the minimum, not the whole story.
Conventional refinancing: Fannie Mae and Freddie Mac
Let’s be honest: if you’re behind right now, a conventional refinance isn’t available. The loan has to be current first. After that, the underwriting systems look back at your last 12 months, and not all late payments are treated the same.
Fannie Mae’s Desktop Underwriter returns an Ineligible result if any mortgage on your credit reportA credit report is a detailed record of your credit history. Mortgage lenders use it to help determine how you have managed credit in the past and how much risk may be involved in lending you money. A mortgage credit report generally... More shows a 60-day-or-worse late in the past 12 months.
Fannie Mae’s guidelines specifically say borrowers can’t bring past-due mortgage accounts current right before closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More to get around this rule.
- 30 days late: it counts against you, but it isn’t an automatic no. With good equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More and solid credit, an approval is often still possible, even with more than one.
- 60 days late: Fannie Mae’s system marks the loan ineligible for 12 months, no matter how much equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More you have.
- 90+ days late: traditional refinancing is especially hard, even once the loan is current.
Freddie Mac has similar payment-history requirements. And conventional isn’t the only path: after some late payments, a full FHA refinance is often the better fit (see the next section).
Why the rules are so strict: lenders sell these loans to Fannie Mae and Freddie Mac and promise they meet the guidelines. A loan that defaults soon after closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More can be forced back onto the lender, so lenders won’t take that risk.
Ask your servicer about forbearance, a repayment plan, a payment deferral, or a Flex Modification. These options are built for exactly this situation, and they don’t require a new loan.
FHA forward refinance restrictions
Like every standard refinance, an FHA refinance requires the mortgage to be current. But once you’ve caught up, a full FHA rate-and-term refinance is often one of the best options for homeowners with some recent late payments, whether your current loan is FHA or conventional.
FHA rates are often competitive, and FHA underwriting can be more flexible about past credit problems than conventional. Matching your situation to the right program is exactly what an independent broker does.
Stricter: it generally requires every payment made on time for the previous 12 months.
No broker can waive a program’s delinquency rules, but comparing programs and lenders can make the difference between a “no” and a “yes.”
Being late on your FHA loan doesn’t, by itself, put you in CAIVRS.
CAIVRS is a federal database of defaulted federal debts and claims a federal agency has already paid. Examples include a prior FHA or VA foreclosure claim, a defaulted SBA loan, or a defaulted federal student loan. A CAIVRS hit blocks FHA approval. But for a borrower who’s simply behind on an FHA mortgage, the barrier is the payment-history rule, not CAIVRS.
If you have an FHA loan and you’re behind
FHA servicers must review you for HUD’s loss-mitigation options before foreclosing. Those can include a repayment plan, forbearance, a loan modification, a payment supplement, or a partial claim. HUD generally limits borrowers to one permanent home-retention option every 24 months.
- HUD pays your past-due amount to your servicer, bringing the mortgage current.
- In exchange, you sign a second mortgage held by HUD, with zero interestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More and no monthly payments.
- It’s repaid only when you sell, refinance or pay off the first mortgage.
- All partial claims combined can total up to 30% of your loan balance.
- You don’t apply to HUD directly. You go through your servicer, and a trial payment period may be required first.
VA refinancing, including the delinquent IRRRL exception
A VA cash-out refinance, and a regular IRRRL (InterestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More Rate Reduction Refinance Loan), are normally done on loans that are current. An IRRRL also has to meet VA’s seasoning rule: at least six consecutive monthly payments, and 210 days since the first payment due date. VA does have one important exception.
VA allows an IRRRL on a VA loan that’s 30 or more days past due, with VA’s prior approval.
The lender can’t approve it on its own. It must submit the file to VA, and first confirm two things:
- The cause of the delinquency has been resolved. Examples: you’re back at work, the medical crisis has passed, or income has been restored.
- You’re willing and able to make the new payment.
The submission includes an explanation of the delinquency with documentation, proof it’s been fixed, a credit reportA credit report is a detailed record of your credit history. Mortgage lenders use it to help determine how you have managed credit in the past and how much risk may be involved in lending you money. A mortgage credit report generally... More, pay stubs and employment verification, the loan application, and VA’s loan analysis form. Past-due amounts can be rolled into the new loan, but VA tells lenders to make sure that still leaves you better off.
Many lenders choose not to offer delinquent IRRRLs because of the extra review and investor rules. If you’re a veteran who’s behind, it’s worth asking, but don’t assume every lender will do it.
New in 2026: the VA Partial Claim Program
Under the VA Home Loan Program Reform Act, VA launched a Partial Claim Program on June 15, 2026. Servicers must be fully compliant by November 28, 2026. After you successfully complete a three-month trial payment period, the servicer can bring your loan current. VA reimburses the servicer, and you repay the advanced amount when you sell, refinance or pay off the loan. The amount is capped at a percentage of your loan balance. It’s part of a new VA loss-mitigation “waterfall” that also includes repayment plans and loan modifications with terms up to 40 years.
Chapter 13 note: VA can consider a loan during a Chapter 13 plan after 12 months of satisfactory plan payments, with approval from the trustee or court. The mortgage itself still has to be current under the plan.
USDA refinancing restrictions
USDA’s refinance programs (Streamlined, Non-Streamlined and Streamlined-Assist) are only for homeowners who already have a USDA loan, either Guaranteed or Direct. All three require:
- The existing loan paid as agreed for the 180 days before the loan application.
- The existing loan closed at least 180 days before the request.
Foreclosure rules depend on which kind of USDA loan you have. Most New Hampshire USDA borrowers have a Guaranteed loan serviced by a private company. That servicer follows the federal 120-day rule plus USDA’s loss-mitigation requirements. Direct (Section 502) loans are serviced by USDA itself under separate rules (7 CFR 3550).
An acceleration letter (a demand for the full balance) is not the same as a foreclosure filing. On a Guaranteed loan for your primary home, the federal 120-day protection still applies before foreclosure itself can start.
Non-QM refinancing: investor requirements and exceptions
Non-QM loans include bank-statement, asset-depletion, DSCR, ITIN and similar programs. They aren’t bound by Fannie Mae, FHA, VA or USDA rules, but that doesn’t make them more forgiving about a mortgage that’s behind right now. The investors who buy these loans protect themselves against early defaults, so most programs require:
- The mortgage current at application and closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More.
- A clean recent mortgage history, often no 30-day lates in the last 12 months, though some programs allow one.
- No active forbearance, foreclosure, or unresolved bankruptcy-related missed payments.
Some Non-QM programs accept older credit events, such as a past late payment, a prior foreclosure, or a bankruptcy, in exchange for a lower loan-to-value and a higher rate. These programs help people recover after a problem has been resolved. They’re rarely a way to refinance a loan that’s actively delinquent.
Investment properties: DSCR and other business-purpose loans generally aren’t covered by the federal 120-day rule. Foreclosure on an investment property can move faster.
Private-money and foreclosure-bailout lending
Private and “hard money” lenders work with borrowers that agency lenders can’t help: people who are behind, in foreclosure, in bankruptcy, or have damaged credit. They lend mainly against equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More, not credit.
A maximum loan of about 60–65% of the home’s value. Terms of 6 to 36 months, high rates, high fees, and often little emphasis on credit score.
A clear exit strategy: selling the home, or refinancing into a regular loan once you’ve rebuilt your payment history. These are bridges, not long-term homes for your mortgage.
When it can make sense: you have substantial equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More, the problem that caused the delinquency is behind you, and there’s a realistic plan to sell or refinance before the bridge loan comes due. It’s especially common for investment properties.
Be very cautious if a lender asks you to sign a statement that a loan on the home you live in is for “business purposes.”
Refinancing your own primary residence is generally consumer credit under federal law, and regulators look at the loan’s real purpose, not the label on a form. Signing that kind of affidavit can mean giving up important protections, including the ability-to-repay rules, high-cost loan rules, and servicing protections. Before you sign, talk with a HUD-approved counselor or a real estate attorney.
The NH Banking Department warns homeowners to watch out for anyone who:
- Asks for money up front, or offers a “money-back guarantee”
- Guarantees to stop the foreclosure or get your loan modified
- Tells you not to contact your lender, a lawyer or a counselor
- Asks you to sign over your deed so they can “help.” This can cost you your home and all your equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More.
FHA HECM reverse mortgages: refinancing a delinquent mortgage
For homeowners 62 and older, the FHA-insured Home EquityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More Conversion Mortgage (HECM) is one of the most powerful tools available (learn more on my reverse mortgage page). A HECM doesn’t require your current mortgage to be up to date. It does have to pay off that mortgage in full, including past-due payments, late fees and any unpaid property taxes. Once that’s done, you have no required monthly principal and interestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More payment. Homeowners are always still obligated to pay property taxes, homeowners insuranceHomeowners Insurance: a policy covering a home's structure, personal belongings, and liability against covered losses; required by lenders to protect the property securing the loan. More, utilities, maintenance and, where applicable, homeowners association (HOA) fees.
The only question that really matters: does it fit?
Your principal limit is the most a HECM can provide. It depends on the age of the youngest borrower, interestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More rates, and your home’s value, up to FHA’s 2026 limit of $1,249,125. Everything below has to fit inside it:
If the left side is larger than the principal limit, you’d need to bring cash to closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More to cover the difference, or the HECM won’t work.
HECM rules usually cap how much you can take in the first year. Paying off an existing mortgage counts as a “mandatory obligation,” and those can go past the usual first-year cap, so a large payoff isn’t by itself a problem.
A HECM can still pay off the loan as long as the sale hasn’t happened. But a HECM takes time: required HUD counseling, an appraisalAn appraisal is an independent, professional opinion of a property's value. It is completed by a licensed appraiser who examines the home, studies recent sales in the area, and applies established valuation methods to determine what the property is worth in the... More and underwriting usually take 30 to 60 days or more. If a sale date is close, your servicer may need to postpone it. The earlier you start, the better.
How financial assessment, CAIVRS and LESA affect HECM eligibility
Being behind doesn’t automatically disqualify you from a HECM, but it does affect how you qualify. HUD’s financial assessment asks two questions: are you willing to keep paying property taxes and insurance (judged by your credit and property-charge history), and are you able to (judged by your residual income)?
Satisfactory credit history for a HECM
- All housing and installment payments made on time for the last 12 months
- No more than two 30-day mortgage or installment lates in the last 24 months
- No major late payments on revolving accounts (like credit cards) in the last 12 months
- Property taxes and insurance paid on time
A homeowner who’s currently behind usually won’t meet that standard. That’s not the end of the road, though. It usually leads to one of two outcomes:
If the late payments came from something outside your control that’s now resolved, such as a job loss, serious illness, or the death of a spouse, the lender can document it with letters and proof. A LESA may then not be required.
A Life Expectancy Set-Aside holds back part of your HECM proceeds to pay future property taxes and insurance for you, based on your life expectancy.
It depends on your age (younger borrowers need a larger set-aside) and your tax and insurance bills. With NH property taxes, set-asides of $50,000 to $150,000 or more are common. That’s why a HECM with a LESA requires substantial equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More, but for many homeowners it works.
CAIVRS and HECMs
HECM lenders do run a CAIVRS check. If you have a delinquent federal debt, such as a defaulted federal student loan or a past-due federal tax bill, it usually must be resolved, and it’s often paid from the HECM proceeds at closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More. If FHA or VA paid a claim on a prior foreclosure of yours, there’s generally a three-year waiting period. Being late on the mortgage the HECM is paying off isn’t a CAIVRS issue in itself. If HUD holds a partial-claim second lienLien: a legal claim against a property that secures repayment of a debt — it gives a creditor the right to be repaid from the property's value, not ownership of it. More on your home, the HECM must pay that off too.
What if foreclosure proceedings have already started?
New Hampshire uses a non-judicial “power of sale” process under RSA 479:25, so most foreclosures don’t go through court unless the homeowner takes it there. Here’s what the law requires for a mortgage on a home:
The notice of sale must be mailed to you at least 45 days before the sale. It must state the date, time and place, and include Banking Department contact information.
The sale must be advertised once a week for three weeks in a local newspaper, with the first ad at least 20 days before the sale.
To challenge the foreclosure, you must act before the sale.
The notice will tell you that you can petition the Superior Court to stop the sale. If you don’t file before the sale, you generally lose the right to challenge it afterward. If you think something is wrong, talk to an attorney right away.
Your action plan if you’ve received a notice
- Don’t ignore the mail. Write down the sale date and every deadline.
- Ask your servicer, in writing, for a reinstatement quote and a payoff statement. Reinstatement brings you current. A payoff is what a refinance, a HECM or a sale would need to cover.
- Submit a complete loss-mitigation application right away, ideally more than 37 days before the sale.
- Call 211 New Hampshire to be connected with a free HUD-approved housing counselor.
- If the auction is close, get legal help. The NH Banking Department lists 1-877-399-9995 for legal assistance when a sale is imminent. A bankruptcy attorney can explain whether a filing would pause the sale.
- Check your equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More. If you have it, a sale, a HECM (62+), or a carefully chosen bridge loan may let you keep it instead of losing it at auction.
Alternatives: repayment plans, loan modifications and selling
For most homeowners who are behind, the answer isn’t a new loan. It’s working with the one you already have. Every major program (Fannie Mae, Freddie Mac, FHA, VA and USDA) requires servicers to review you for options like these:
Repayment plan
Catch up gradually by adding part of the past-due amount to your regular payment for several months.
Forbearance
Payments are reduced or paused for a short time during a hardship. The missed amount is dealt with afterward.
Loan modification
The loan’s terms are permanently changed (rate, term, or added arrears) to make the payment affordable.
Partial claim or deferral
The arrears move into a separate balance, often interest-free, that’s due when you sell, refinance or pay off. FHA and VA call it a partial claim; Fannie Mae and Freddie Mac call it a payment deferral.
Sell the home
If you have equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More, a traditional sale before the auction lets you keep it. In today’s NH market, many homeowners have more equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More than they realize.
Short sale or deed-in-lieu
If you owe more than the home is worth, these let you leave the home without a completed foreclosure. They’re often available through your loan program.
HUD-approved housing counselors help at no cost. They can review your options, help with loss-mitigation paperwork, and talk to your servicer for you. In New Hampshire, call 211, or find a counselor through HUD at 800-569-4287.
Comparison chart: can you refinance while behind?
| Program | Refinance while delinquent? | Typical payment history needed | Key notes |
|---|---|---|---|
| Conventional | No | Current. 30-day lates may be OK; any 60+ day late in 12 months is ineligible in DU. | Can’t catch up right before closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More to get around the rule. |
| FHA forward | No | Current. After past lates, a full FHA refinance can be more flexible than conventional. Cash-out: 12 months on time. | FHA partial claim can help you catch up first. |
| VA | Limited | Normally current. A delinquent IRRRL is possible with VA prior approval. | New VA Partial Claim Program (2026) for veterans who are behind. |
| USDA | No | Paid as agreed for 180 days. Existing USDA loans only. | Guaranteed loans follow the federal 120-day rule. |
| Non-QM | Rarely | Current. Often no 30-day lates in 12 months. | Some programs accept older credit events at a lower loan-to-value. |
| Private / bailout | Yes, at a cost | Not much emphasis on history. Based on equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More, around 60–65% of value. | Short-term, expensive, needs an exit plan. Watch for business-purpose affidavits. |
| FHA HECM (62+) | Yes | No current-loan requirement. Lates may require a LESA. | Payoff, costs and LESA must fit within the principal limit. |
Frequently asked questions
Can I refinance if I’m only one payment behind?
Honestly, probably not until you’re current. Once you are, a 30-day late counts against you but isn’t an automatic no, especially with good equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More. The best move is to catch up as quickly as possible and keep every payment on time from there.
If I catch up all my missed payments, can I refinance right away?
It depends on how late you were. Lenders look back 12 months. A 30-day late may still allow approval, especially with good equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More, and a full FHA refinance is often more flexible than conventional. A 60-day late makes conventional loans run through Fannie Mae’s DU ineligible for 12 months, even after you’ve caught up.
Does the 120-day rule mean I have 120 days before I lose my home?
No. It means foreclosure generally can’t start until you’re more than 120 days behind. In New Hampshire, a sale then requires at least 45 days’ mailed notice. Meanwhile, fees and credit damage pile up every month, so it’s much better to act early.
Will my servicer stop the foreclosure if I apply for help?
Federal rules protect you if you submit a complete loss-mitigation application on time. If it’s in before the first foreclosure filing, the servicer generally can’t file while it’s under review. If it’s in more than 37 days before a scheduled sale, the servicer generally can’t move forward with the sale until you’ve been evaluated. Incomplete applications don’t get the same protection, so respond quickly to every document request.
I’m 62+ and behind on my mortgage. Can a reverse mortgage really help?
Often, yes. A HECM can pay off a delinquent mortgage, including the arrears, if your principal limit is big enough to cover the payoff, closing costsClosing costs are the fees and charges due at closing beyond the down payment itself — the collection of costs that pay for all the work, insurance, and government processes required to originate a loan and transfer (or refinance) a property. They... More and any required set-aside for taxes and insurance (LESA). There’s no required monthly principal and interestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More payment, but homeowners are always still obligated to pay property taxes, homeowners insuranceHomeowners Insurance: a policy covering a home's structure, personal belongings, and liability against covered losses; required by lenders to protect the property securing the loan. More, utilities, maintenance and, where applicable, homeowners association (HOA) fees. A significant amount of equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More is needed, and HUD-approved counseling is required before you apply. Learn more about reverse mortgages in NH.
Is a private “foreclosure bailout” loan a good idea?
Sometimes, as a short bridge, if you have plenty of equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More and a realistic plan to sell or refinance before it comes due. It’s expensive, and you should be very careful about signing anything that calls a loan on your own home a “business-purpose” loan. Get independent advice before signing.
Can I stop a New Hampshire foreclosure sale once it’s scheduled?
Up until the sale, you can usually reinstate (pay what’s past due plus fees) or pay the loan off by selling or refinancing. To challenge the foreclosure itself, you must petition the Superior Court before the sale. Talk to an attorney right away if you believe the foreclosure is improper.
Does a late FHA payment put me in CAIVRS?
Not by itself. CAIVRS lists delinquent or defaulted federal debts and claims an agency has paid, like a prior FHA foreclosure claim or a defaulted federal student loan. What stops an FHA refinance when you’re behind is FHA’s payment-history requirement.
Official guidelines and resources
Not sure which option fits your situation?
I’ll look at your loan type, payment history and equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More, and tell you honestly which doors are open, including when the right answer is a call to your servicer rather than a new loan. You can also see all my NH loan programs or contact information.
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