Joy A. Chase v. Ameriquest Mortgage Company

Summary

The New Hampshire Supreme Court affirmed the appellate judgment, holding that the homestead exemption exception in RSA 480:4, III does not apply because the Ameriquest mortgage failed statutory formalities, but it upheld the trial court’s equitable subrogation award, limiting Ameriquest’s recovery to the amount it actually paid. The decision rests on a de novo interpretation of the statutes and a discretionary equity analysis of subrogation.