New Mexico Foreclosures - 1,661 Foreclosure Listings

Foreclosure Homes in New Mexico

There are currently foreclosed homes listed in New Mexico. Why should you consider buying a foreclosure property in New Mexico? To save money, of course! That’s right, purchasing a foreclosed home can save you as much as 50 percent or more on the final sale price of a distressed deal in New Mexico when compared to a traditional single-family house. We’ve also got awesome deals on top of incredible foreclosure deals, from rent-to-own homes, short sales and preforeclosures in New Mexico, as well as bankruptcy filings and government-owned foreclosure listings such as HUD, Fannie Mae and Freddie Mac, among others. Just select the county in New Mexico that you want to look for a property below. Then search through all distressed real estate listings in New Mexico for the amazing deal that’s right for you.

New Mexico Foreclosure Laws

New Mexico mainly uses judicial foreclosure, meaning the lender must go to court before the property can be sold. Most home loans are secured by mortgages. Because cases move through the court system, the process can take many months. Deficiency judgments may be allowed if the sale price does not cover the full amount owed.

Foreclosure Type Process

Judicial
Mortgage Instrument Security Type

Mortgage and Deed of Trust. Both are widely used.
Typical Timeline Duration

2-4 months typical
Deficiency Judgment

Deficiency judgments permitted with limitations
Redemption Period Owner Rights

Limited redemption rights.
Process Summary

New Mexico primarily uses judicial foreclosure. Nonjudicial foreclosure is available for deeds of trust but is used less frequently.
Notice / Timing Statute

New Mexico Statute § 39-5-1 et seq., § 48-10-1 et seq. (judicial foreclosure; HLPA requirements)
Redemption Statute(s)

New Mexico Statute § 39-5-18, § 48-7-23 (redemption periods vary by circumstances)
Deficiency Statute(s)

New Mexico Statute § 48-7-21 (deficiency based on fair market value)

How to Buy a Foreclosure in New Mexico

In New Mexico, search for foreclosure notices via county public trustee listings, MLS, and newspaper publications. New Mexico' non-judicial foreclosure demands notice and timeline compliance. Arrange your financing early. Conduct title and inspection checks. Attend the trustee' sale and finalize payment.

What type of foreclosure is used in New Mexico?

The type of foreclosure in New Mexico is Judicial

Is there a redemption period in New Mexico?

Limited redemption rights.

Are deficiency judgments allowed in New Mexico?

Deficiency judgments permitted with limitations in New Mexico

How do you buy a foreclosure in New Mexico?

In New Mexico, search for foreclosure notices via county public trustee listings, MLS, and newspaper publications.