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| The ABC's of Loan Documents |
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 Are You Worried About Your Mortgage? |
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Banking Commissioner Peter Hildreth strongly supports Governor Lynch’s recent call to action in light of increasing foreclosure rates in New Hampshire and across the country.
Commissioner Hildreth urges homeowners to make sure that they are educated consumers when it comes to their mortgages. To assist New Hampshire citizens, the Banking Department
is holding free public sessions in cities across the state where Banking Department staff will review consumers’ mortgage documents and answer questions that New Hampshire citizens
may have about upcoming changes in their payment terms.
The Department has held sessions in Rochester, Keene, Nashua, Manchester, Berlin, Littleton, Portsmouth, Concord, Laconia, Claremont, Hudson, and Lebanon.
Additional sessions will be held in other locatons around the state. Please check this site or call us at 603-271-3561 for more information.
Consumers who have purchased a home or refinanced within the last two or three years should pay particular attention to whether their mortgages call for a change in payments in the
coming months. Banking Department staff will be available to review documents with consumers on an individual basis and assist citizens in understanding what their new payment would
be if the mortgage were to reset today. Staff will also review documents for signs of fraud and assist consumers in filling out consumer complaint forms if appropriate.
The public is also invited to stop into the Banking Department office during business hours. When meeting with NHBD staff, consumers should bring as many of their loan documents as they
can including, if possible: the HUD-1 form; the Note; the Mortgage; the Truth in Lending Statement; the Good Faith Estimate; the Application; the most recent mortgage statement; and any other documents you may have signed to obtain this mortgage.
If you are one of those individuals who bought your home within the last three years and took advantage of such mortgage offerings as a low introductory rate, the Banking Department wants
to be sure that you understand fully the terms of your loan. Many such loans are about to adjust to require a new, higher payment. The Banking Department wants to help you estimate what
a new payment would be so that you can determine whether you can meet the new payment level. If you cannot, you can start exploring other options today! For example, you should start to
work with your lender now to determine whether you can refinance into a mortgage that you can afford. If that option is not available to you, it is best that you understand as soon as
possible so that you can make alternative plans.
A representative from Consumer Credit Counseling Service NH-VT will also be present at some sessions to conduct supplementary individual counseling sessions and schedule additional meetings
as appropriate. CCCS is a local non-profit community service organization that can offer advice on such issues as budget and credit counseling, as well as debt management—concerns that often
go hand-in-hand with mortgage concerns.
For additional information about the Banking Department’s consumer outreach program and a schedule of locations where sessions will be held, visit this webpage often, email the Legal Division
at Legal@banking.state.nh.us, or phone Jennifer McAllister at (603) 271-3561.
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The Senior Center
10 Campbell Street
Lebanon, New Hampshire
February 20, 2008
Hudson, New Hampshire
The Hills Garrison Elementary School
190 Derry Road
Hudson, New Hampshire
February 13, 2008
Claremont, New Hampshire
The Senior Center
5 Acer Heights
Claremont, New Hampshire
February 7, 2008
Laconia, New Hampshire
Laconia Public Library
695 North Main Street
Laconia, NH 03246
October 16, 2007
Concord, New Hampshire
New Hampshire Banking Department
64B Old Suncook Road
Concord, NH 03301
October 9, 2007
Portsmouth, New Hampshire
Housing Partnership
1555 Islington Street
Portsmouth, NH 03801
October 4, 2007
Littleton, New Hampshire
AHEAD Inc.
161 Main Street
Littleton, NH 03561
September 19, 2007
Berlin, New Hampshire
NH Community Technical College Library
2020 Riverside Drive
Berlin, NH 03570
September 18, 2007
Manchester, New Hampshire
Aldermanic Chambers
One City Hall Plaza
Manchester, NH 03101
August 28, 2007
Salem, New Hampshire
Salem High School Library
44 Geremonty Drive
Salem, NH 03079
August 20, 2007
Nashua, New Hampshire
City Auditorium, City Hall
229 Main Street
Nashua, NH 03060
August 13, 2007
Keene, New Hampshire
Kay Fox Room
Keene Public Library
60 Winter Street
Keene, NH 03431
August 6, 2007
Rochester, New Hampshire
City Council Chambers
31 Wakefield Street
Rochester, NH 03867
August 2, 2007
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Documents to Bring to Session |
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- HUD-1 Form
- Note
- Mortgage
- Truth in Lending Statement
- Good Faith Estimate
- Application
- Riders or Addendum
- Most recent mortgage statement
- Amortization Schedule
- Any other documents connected to your mortgage
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Click here for
CONSUMER INFORMATION
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