Bill Text: NH HB309 | 2019 | Regular Session | Amended

New Hampshire House Bill 309 (Prior Session Legislation)

Bill Title: Relative to procedures for foreclosure of a mortgage.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2019-04-25 - Inexpedient to Legislate, Motion Adopted, Voice Vote === BILL KILLED ===; 04/25/2019; Senate Journal 14 [HB309 Detail]

Download: New_Hampshire-2019-HB309-Amended.html

HB 309 - AS AMENDED BY THE HOUSE

19Mar2019... 0735h

2019 SESSION

19-0471

10/03

HOUSE BILL 309

AN ACT relative to procedures for foreclosure of a mortgage.

SPONSORS: Rep. Williams, Hills. 4

COMMITTEE: Commerce and Consumer Affairs

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ANALYSIS

This bill modifies procedures for power of sale mortgage foreclosures and clarifies the notice requirement for a mortgager to enjoin a nonjudicial foreclosure.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

19Mar2019... 0735h 19-0471

10/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Nineteen

AN ACT relative to procedures for foreclosure of a mortgage.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Sale Under the Power; Notice. Amend RSA 479:25, II(a) to read as follows:

II.(a) A copy of said notice shall be served upon the mortgagor [or] by the sheriff either by hand or by leaving a copy at the mortgaged premises. A copy shall be sent by registered or certified mail to his or her last known address or to such person as may be agreed upon in the mortgage. Such copy shall be mailed and service shall be made by the sheriff at least 25 days before the sale, or in the case of a residential mortgage, at least 45 days before the sale. The term "mortgagor'' shall include the mortgagor and any grantee, assignee, devisee or heir of the mortgagor holding a recorded interest in the mortgaged premises subordinate to the lien of the mortgage, provided that such interest is recorded at least 30 days, or in the case of a residential mortgage, at least 50 days, before the date of the sale, in the registry of deeds for the county in which the mortgaged premises are situated. In this paragraph, the term "residential mortgage'' means a mortgage on a dwelling, as defined in RSA 397-A:1, VI-c. Like notice shall be sent to any person having a lien of record on the mortgaged premises not less than 21 days before the sale, provided that the lien is recorded at least 30 days, or in the case of a residential mortgage, at least 50 days, before the date of the sale in the registry of deeds. Such notice of sale shall be sufficient if it fully sets forth the date, time, and place of sale; the town, county, street or highway and street number, if any, of the mortgaged premises; the date of the mortgage; the volume and page of the recording of the mortgage; and the terms of the sale. Any mortgagor or record lienholder who refuses to accept or claim mailed or served notice or who frustrates attempts by the mortgagee to give notice of the sale by failing to give or leave a forwarding address or by other act or omission shall be deemed to be notified of the sale, provided that such mortgagee shall have made a good faith effort to provide such notice.

2 Sale Under the Power; Notice. Amend RSA 479:25, II(c) to read as follows:

"You are hereby notified that you have a right to [petition] file a complaint in the superior court for the county in which the mortgaged premises are situated, with service upon the mortgagee[, and upon such bond as the court may require, to enjoin the scheduled foreclosure sale]. The filing of a complaint against the mortgagee, followed by notice to the mortgagee, or his or her agent, will operate as an immediate injunction to stop the nonjudicial foreclosure if it is filed at least 10 days before the date of the sale. This injunction will continue until it is lifted by order of the superior court. If the complaint is filed less than 10 days before the date of the sale, an injunction may be ordered at the discretion of the court.'' Failure to [institute such petition] file such a complaint and complete service upon the foreclosing party, or his or her agent, conducting the sale prior to sale shall thereafter bar any action against any third party buyer of the foreclosed property or right of action of the mortgagor based on the validity of the foreclosure.

3 Effective Date. This act shall take effect January 1, 2020.