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How Can a Lender Foreclose on a Property in New Mexico?

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 handling foreclosure claims. The property must be sold at a public sale.
There is a limited exception to the rule that lenders can only foreclose on properties by going to court. Commercial properties that are worth at least $500,000 may be able to be foreclosed upon through non judicial means if the mortgage agreement allows.

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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.

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