New Hampshire Home Loan Modification – Modify Your Mortgage in New Hampshire

Free Loan Modification Consultation

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The banking system in New Hampshire has had positive developments for years which resulted to easy approval for the mortgages and loan applications for everyone. At the start of this program, the bank accepted numerous contracts thinking that their potential successes are increasing considerably.

However, nobody anticipated that this new system will turn into a big disaster after some time. The people began to fail in their monthly payments thanks to ill timed events like loss of job, death of a family member that needed financial support, or the incapability to manage their budget properly. Failure of payments has prompted the bank to enter in foreclosure process to take the right of ownership for the mortgaged properties. The foreclosed homes or properties are put up for auction at small prices in comparison to those on the real estate market. But the real estate market is currently facing crisis, the banks were unable to sell the properties and; hence, they failed to recover the money they invested for the mortgage.

As a result, foreclosure process was not a profitable option for the creditors. The government came up with the solution. They approved and implemented a new law allowing loan modification. The law states that the terms of the initial contract can be revised with the reason of preventing a loan default and will bring mutual benefits to both sides.

If you think that your current terms and agreement in your mortgage contract doesn’t match your financial status anymore, you have the right to apply for a loan modification. After its implementation last February 18, 2009, there are several people who applied for it and their loan got modified. This is the best alternative for both mortgagee and mortgagor. It supports a better communication between the bank and its client. If you are currently experiencing financial crisis, talk to your lender and explain the situation you are in.

After that, expect that your lender will schedule an appointment with the bank’s representatives. They will study and analyze your situation. They will also elaborate the new contract and make sure that it will satisfy your needs. If the high rates are your problem, they can decrease it by extending the length of the mortgage. If you are unable to handle the flexible rates, go for fixed ones. Regarding the whole modification process, seeking professional assistance can help you in handling these procedures.

In New Hampshire, more than 10,000 homes have been saved from foreclosure since the implementation of the loan modification system.

New Hampshire Mortgage Companies

Sensible Mortgage Solutions Corp.
18 Opera House Square
Claremont, NH

A Smarter Way To Refinance
229 Lund Rd
Nashua, NH

Citizens Bank – Hudson SS NH
9 Wason Rd.
Hudson, NH

Bank of America – Hampton
264 Lafayette Rd
Hampton, NH

Bank of America – Manchester
1000 South Willow Street
Manchester, NH

Pro Loan Finders, LLC
39 Samoset
Salem, NH Inc.
200 Elm Street
Manchester, NH

TD Bank
35 Manchester Road
Derry, NH

Citizens Bank – Londonderry
Route 102 42 Nashua Road
Londonderry, NH

Bank of America – Somersworth
1 Parsons Drive
Somersworth, NH

New Hampshire Legal Services

Legal Advice and Referral Center (LARC)

Assistance: Foreclosure
Location: Concord
Phone: 603-224-3333
Toll-Free: 800-639-5290
Services: LARC is a private, nonprofit law firm that provides free legal services to eligible, low-income people anywhere in New Hampshire. Attorneys and paralegals provide legal advice by telephone.

New Hampshire Legal Assistance

Assistance: Foreclosure
Location: Administration; Berlin; Claremont; Concord; Littleton; Manchester; Nashua; and Portsmouth
Phone: Administration: (603) 224-4107
Berlin: (800) 698-8969
Claremont: (800) 562-3994
Concord: (800) 921-1115
Littleton: (800) 921-1115
Manchester: (800) 562-3174
Nashua: (800) 517-0577
Portsmouth: (800) 334-3135
Services: The New Hampshire Legal Assistance Housing Justice Project promotes equal access to housing by working with clients on preserving their housing.

Avoid Mortgage Scams New Hampshire

Attention homeowners: If you think you have been a victim of a scam, or approached by a scammer, report it to the Loan Modification Scam Prevention Network now! Your complaint could provide vital information that will help put loan modification scammers out of business.

Call 1-888-995-HOPE (With your permission, the complaint will automatically be shared with federal, state and local law enforcement)