New Mexico Foreclosure Laws

ATTORNEY GENERAL’S OFFICE

408 Galisteo Street
Villagra Building
Santa Fe, New Mexico 87501
Tel:(505) 827-6000
Fax: (505) 827-5826
www.ago.state.nm.us

Type of Document: Trust Deed

TYPES OF FORECLOSURE:

Only judicial foreclosure is allowed in the foreclosing of residential real estate.

Deficiency: The lender may pursue a deficiency judgment.

Redemption: The borrower has between one and nine months to redeem the property. All they have to pay is the amount owed plus 10% interest.