SB 332 – AS INTRODUCED
2010 SESSION
08/10
SENATE BILL 332
AN ACT relative to recording requirements for mortgage and foreclosure notices.
SPONSORS: Sen. Bragdon, Dist 11
COMMITTEE: Commerce, Labor and Consumer Protection
This bill specifies what information shall be included in notice of sale of a mortgage.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
10-2875
08/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT relative to recording requirements for mortgage and foreclosure notices.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Sale Under the Power. Amend RSA 479:25 by inserting after paragraph II-a the following new paragraph:
II-b. The notice to the mortgagor and any person entitled to receive notice under paragraph II shall include:
(a) The names and addresses of all persons who hold legal title to the debt secured by the mortgage;
(b) The names of all title holders of record of the real estate;
(c) A legal description of the real estate sufficient to identify it with reasonable certainty;
(d) A street address or common description of the location of the real estate;
(e) Identification of the mortgage and note sought to be foreclosed;
(f) The name, address, and phone number of the servicer, servicer’s agent, or servicer’s representative;
(g) The name, address, and phone number of a natural person, 21 years of age or older, who can accept service of process for the creditor and mortgagee; and
(h) The name, address, and phone number of a natural person, 21 years of age or older, who can be contacted by the town, city, municipality, or state to answer questions relating to the maintenance of the real estate and any improvements thereon.
2 New Paragraph; Sale Under the Power. Amend RSA 479:25 by inserting after paragraph IV the following new paragraph:
V. The power shall vest only in the person who holds legal title to the debt secured by the mortgage. For purposes of this section, nominees do not hold legal title. No foreclosure sale shall be valid if the power is exercised by a person who does not hold legal title to the debt secured by the mortgage.
3 New Section; Sale Under the Power. Amend RSA 479 by inserting after section 10 the following new section:
479:10-a Transfers or Assignments. Transfers or assignments of legal title in debt secured by real property located in the state of New Hampshire shall be recorded in the appropriate registry prior to the creditor enforcing its rights and remedies under the note, including foreclosure.
4 Effective Date. This act shall take effect 60 days after its passage.