New Mexico § 47-15-4 Rescission of foreclosure consultant contract

New Mexico Statutes

§ 47-15-4 — Rescission of foreclosure consultant contract

New Mexico § 47-15-4

Ch. 47Property Law

Art. 15Mortgage Foreclosure Consultant Fraud Prevention

This text of New Mexico § 47-15-4 (Rescission of foreclosure consultant contract) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 47-15-4 (2026).

Text

A.In addition to any other right under law to rescind a contract, an owner may rescind a foreclosure consulting contract until midnight of the third business day after the day on which the owner signs a foreclosure consulting contract that complies with the Mortgage Foreclosure Consultant Fraud Prevention Act.

B.Cancellation of a foreclosure consulting contract occurs when an owner gives written notice of cancellation to the foreclosure consultant at the address specified in the contract.

C.Notice of cancellation, if given by mail, is effective when deposited in the mail properly addressed with postage prepaid.

D.Notice of cancellation given by an owner need not take the particular form as provided with the contract and, however expressed, is effective if it indicates the intention of

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A. In addition to any other right under law to rescind a contract, an owner may rescind a foreclosure consulting contract until midnight of the third business day after the day on which the owner signs a foreclosure consulting contract that complies with the Mortgage Foreclosure Consultant Fraud Prevention Act. B. Cancellation of a foreclosure consulting contract occurs when an owner gives written notice of cancellation to the foreclosure consultant at the address specified in the contract. C. Notice of cancellation, if given by mail, is effective when deposited in the mail properly addressed with postage prepaid. D. Notice of cancellation given by an owner need not take the particular form as provided with the contract and, however expressed, is effective if it indicates the intention of the owner not to be bound by the contract.