Creditor’s Rights
Enforcement of Judgments in New Mexico
When a plaintiff sues a defendant to recover monies owed by the defendant and eventually succeeds in winning the suit, an award of damages is incorporated in to the judgment of the court identifying the exact amount of the judgment and whether any court costs, attorney’s fees and interest may also be part of the…
Read MoreNew Mexico Law on Garnishment Withholding
In the previous blog post, the question of whether filing bankruptcy can stop a garnishment collection was addressed. As discussed, many types of garnishments can be stopped by the mere filing of a bankruptcy case because an automatic stay will effectively suspend, if not end, any such collection. However, recovery of some priority debts via…
Read MoreBank 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 MoreGetting Past the Automatic Stay in Bankruptcy
One of the most important features of the bankruptcy process is the automatic stay, which stops those from collecting debts from the party filing for bankruptcy protection. Specifically, under 11 U.S. Code § 362, the filing of a bankruptcy petition operates as a stay of: (1)… a judicial, administrative, or other action or proceeding against…
Read MoreThe Non-Dischargeability of Certain Types of Debt
The primary reasons most debtors file for Chapter 7 bankruptcy protection are to rid themselves of debts which hinder their ability to get back on their feet financially. But individuals considering whether to take such an avenue need to recognize that many types of debt – or certain claims they owe – are not permitted…
Read MoreNew Mexico Unfair Practices Act Utilized by Victim of Improperly-Conducted Repossession
A particular repossession of an automobile belonging to a Rio Rancho resident who, in fact, had defaulted on his car loan, fell afoul of New Mexico’s Unfair Practices Act (“UPA”), according to a recent United States District Court ruling. The court’s opinion in Duke v. Garcia, No. 11-CV-784-BRB/RHS (U.S. Dist. Ct. D. N.M. 2014) shows…
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…
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