Attorneys

New Mexico Foreclosure FAQs

• Q: Does New Mexico Law Allow for a Redemption Period After a Foreclosure?
  A: Yes, New Mexico law allows a borrower to redeem a property within nine months of the foreclosure sale date. The borrower must pay the foreclosure sale price, … More
• Q: Where and When do Foreclosure Sales Take Place in New Mexico?
  A: In New Mexico, the date, time and location of a property foreclosure sale must be published in the Notice of Sale. State law does not provide specific … More
• Q: What Public Notice Requirements are There for a Real Estate Foreclosure in New Mexico?
  A: Residential property foreclosures in New Mexico occur through the judicial system. The court is required to issue a Notice of Sale and the terms of publication … More
• Q: Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in New Mexico?
  A: Yes, a lender can bring a deficiency judgment action against a borrower if money is still owed on a mortgage after a foreclosure sale. However, New Mexico … More
• Q: How Can a Lender Foreclose on a Property in New Mexico?
  A: New Mexico lenders must go to court in order to foreclose on a property if a borrower is in default on his or her mortgage. The district court is responsible for … More
• Q: How Long Does the Typical Foreclosure Process Take in New Mexico?
  A: A New Mexico foreclosure usually takes around 120 days to complete. If a borrower files for bankruptcy or seeks a delay of the foreclosure proceedings then the … More
• Q: Can I Keep My Home If I File Bankruptcy in New Mexico?
  A: A New Mexico homeowner is entitled to a homestead exemption of $60,000. If the house is held jointly then each homeowner may claim the exemption for a total of … More

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