"I want to thank you for helping my family stop the foreclosure on our home. You did everything you said you would, like you said you would and we cannot thank you enough!" - B.H. and D.H. - New York |
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Free Consultation 1.800.474.1407New Mexico Foreclosure LawIf you are in foreclosure in the state of New Mexico, we help stop foreclosure in New Mexico. If you would like to keep your home and avoid foreclosure, UCMA has been helping homeowners stop foreclosure since 1997. Avoid New Mexico Foreclosure - Quick Facts
- Judicial Foreclosure Available: Yes In New Mexico, lenders may foreclose on a mortgage in default by using the judicial foreclosure process. Judicial ForeclosureGenerally, in judicial foreclosure, a court decrees the amount of the borrowers debt and gives him or her a short time to pay. If the borrower fails to pay within that time, the court then issues a notice of sale. The notice of sale must contain a legal description of the property and state the place, the time and the date, which must be at least thirty (30) days after the notice of sale is issued, on which the foreclosure sale is to be held. The property will then be sold to the highest bidder on the date specified in the notice. In most cases, the borrower has up to nine (9) months to redeem the property by paying the amount of the highest bid at the foreclosure sale, plus costs and interest. Non-judicial foreclosure is only available for commercial and business properties valued at over $500,000. |
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