Finance
In New Mexico, a mortgage 'deficiency judgment' after foreclosure allows a lender to:
ASell the property a second time
BSue the borrower for any remaining loan balance not satisfied by the foreclosure sale proceeds✓ Correct
CTake additional collateral from the borrower
DReport the default to the NMREC
Explanation
If the foreclosure sale doesn't satisfy the full loan balance, the lender may seek a deficiency judgment against the borrower for the shortfall. New Mexico law limits deficiency judgments in certain situations.
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