Welcome to NM Foreclosure Relief
Provided by the Elite Asset Management Team
"Your Resource for Distressed Property Assistance

 

What is a Short Sale?

 As a successful real estate team in the Albuquerque Metropolitan area, The Elite Asset Management Team has witnessed the devastation that comes with "Life After Foreclosure" and has made a commitment to lend a helping hand to those facing foreclosure to see if together they  can solve the current situation and keep our clients in their homes.

GET A FREE REPORT TODAY TO LEARN HOW
WE CAN HELP YOU AVOID FORECLOSURE!

FORECLOSURE
What it Means and How to Avoid It!
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A. Peter Veres
Lisa Veres
CDPE, CRS,
505-362-2005

  

Sean L. Hellmann
CDPE,
505-453-3002



What is a Certified Distressed Properites Expert (CDPE)?

Chances are, you or someone you know in Albuquerque is facing the possibility of foreclosure. But you need to understand that you are not alone.

Today, 1 out of every 10 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.

Through our experience handling distressed properties with the Elite Asset Management Team at RE/MAX Elite, We've found that homeowners today have more questions than answers about their circumstances. I have created this site to help you understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners.

You may also have noticed that we are offering you a FREE Report to explain your options and help you decide on a course of action. The idea of losing a home can be overwhelming, and we feel it is vital for you to have all the facts necessary to make an informed decision.

As an agent with the CDPE® Designation, we have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.

If you would like to know more about your options, please contact us so we can set up your Free Consultation.

I am here to help in any way I can.

Pete Veres, CRS,CDPE,ABR

Sean Hellman, CDPE


How can a CDPE Agent Help?






Foreclosure Glossary


New Mexico Foreclosure Law Summary
-  Judicial Foreclosure Available: Yes
-  Non-Judicial Foreclosure Available: No
-  Primary Security Instruments: Mortgage
-  Timeline: Typically 120 days
-  Right of Redemption: Yes
-  Deficiency Judgments Allowed: Yes

In New Mexico, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

Generally, 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.