Creditor Defense
Bank of America Seeks Review of Eleventh Circuit Precedent on Second Mortgages
The Supreme Court plans to hear two cases brought by Bank of America concerning liens created by second mortgages where the value of the home is less than the amount of the lien from the first mortgage. In one federal appellate circuit, the Eleventh which takes appeals from certain southeastern states, the Court of Appeals…
Read MoreNew Mexico Supreme Court Applies Loan Protection Act to Nullify Foreclosure
Last month the New Mexico Supreme Court found that the Bank of New York could not foreclose on the home of a New Mexico resident who had refinanced his home by entering in to a promissory note with a different company. The Court specifically interpreted the New Mexico Home Loan Protection Act (HLPA) which prohibits…
Read MoreNew Mexico Homeowners Win Partial Victory against Wells Fargo
The U.S .Ninth Circuit Court of Appeals which rules on federal cases originating from several western states issued a decision earlier this year which gave two New Mexico homeowners a continued opportunity to prevail in a suit against Wells Fargo bank. The plaintiffs in the case of Schlegel v. Wells Fargo Bank[1] procured a loan…
Read MoreThe Unique Nature of Agriculture in New Mexico
New Mexico has a desert climate with plenty of sun and wind with temperatures in many areas hitting the 90s during the day and dropping to the 60s in the evenings. In the winter the temperature fluctuations are even more varied. The state typically has just 12 inches of rain per year. Even so, 60…
Read More