You have many options to defend your real estate from foreclosure. Chapter 7 bankruptcy stays (stops) the foreclosure process. Chapter 11 offers the opportunity for you to get current on your mortgage payment. HAFA and HAMP are programs for mediation and assistance in dealing with your mortgage company.
Fortunately, in New Mexico, our courts apply very demanding requirements of mortgage creditors. Recent state supreme court decisions and UCC interpretations have made foreclosure more difficult for mortgage companies. I have successfully exploited errors in the chain of title, including indorsement, challenging the mortgage company's right to file foreclosure. Combining bankruptcy and delaying the foreclosure process in state court may allow you to remain in in possession of your real property for many years without making another payment or see a positive restructuring of your mortgage.
Bankruptcy Attorney in Albuquerque, Santa Fe & for all of north-central New Mexico . Chapter 7 & Chapter 11. Mortgage foreclosure defense.