Legal Question in Real Estate Law in New Mexico

My house has been sold to Indy Mac Federal Bank on June 10, 2009

I have a second mortgage on the house which is current and tied

to my small business in Santa Fe NM. The second is with Los

Alamos National Bank. Is there any chance of redemption

or should I walk away asap with my belongins and wonderful animals


Asked on 9/15/09, 3:13 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

More information would be helpful, but if you signed a note and mortgage to the Los Alamos bank, you are liable for that debt even though the first mortgage was apparently foreclosed. We assumed a foreclosure when you say "sold" to Indy Mac, and that you did not sell it voluntarily.

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Answered on 9/20/09, 9:06 pm


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