Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in New Mexico?

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 statutes specifically prohibit deficiency judgments from being brought on mortgages that are secured by low income housing.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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