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New Mexico Statutes Chapter 56. Commercial Instruments and Transactions § 56-8-30. No prepayment penalty on home loans

Current as of January 01, 2024 | Updated by Findlaw Staff

No provision in a home loan or a loan for a mobile home, the evidence of indebtedness of a home loan, a real estate contract or an obligation secured by a real estate mortgage or other purchase contract requiring a penalty or premium for prepayment of an installment payment or prepayment of the balance of the indebtedness is enforceable.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 56. Commercial Instruments and Transactions § 56-8-30. No prepayment penalty on home loans - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-56-commercial-instruments-and-transactions/nm-st-sect-56-8-30/

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