Foreclosure Liability Clarification

Summary

In New Mexico, if both parties signed the mortgage, both may be liable for the debt, even if the lender chooses not to collect from one party. New Mexico is not a community property state, so liability depends on the mortgage agreement terms. There is no specific statewide deadline for depositing the note in foreclosure cases, but local court rules may apply. Consulting a foreclosure attorney is advisable to understand your rights and obligations.

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Yes we both signed the mortgage
If you both signed the mortgage, you might be liable for the debt. Here are some considerations:
- Arizona is a community property state, which may affect liability.
- Review the mortgage agreement for specifics on liability.
- Consult a foreclosure attorney for detailed advice.
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We live in New Mexico and I just want to know if they choose to not collect from him if they can still collect from me or is that unfair
In New Mexico, since you both signed the mortgage, you might be liable for the debt even if they choose not to collect from your ex-husband. Here are some points to consider:
- New Mexico is not a community property state, unlike Arizona.
- Your liability depends on the terms of the mortgage agreement.
- Consult a foreclosure attorney for detailed advice on your rights and obligations.
Would you like assistance connecting with local lawyers for more personalized help?
To show standing in foreclosure what is a reasonable time frame to deposit note to court in New Mexico
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In New Mexico, there's no specific statewide deadline for depositing the note to the court in a foreclosure case. However, local court rules and procedures may dictate time frames. It's crucial to consult with a foreclosure attorney to understand the specific requirements and deadlines in your jurisdiction.
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