New Mexico Statutes
§ 56-8-30 — No prepayment penalty on home loans
New Mexico § 56-8-30
This text of New Mexico § 56-8-30 (No prepayment penalty on home loans) 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. § 56-8-30 (2026).
Text
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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Legislative History
Laws 1980, ch. 64, § 9; 2009, ch. 151, § 1.
Nearby Sections
15
§ 56-1-1
Definitions§ 56-1-10
Injunction to prevent violation§ 56-1-11
Consent to discontinuance§ 56-1-12
Violation of injunction; penalty§ 56-1-13
Contracts executed prior to act§ 56-1-16
Variable rates§ 56-1-2.1
Repealed§ 56-1-3
Retail charge agreements§ 56-1-3.1
Repealed§ 56-1-4
Insurance§ 56-1-5
Prohibited provisions§ 56-1-6
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Bluebook (online)
New Mexico § 56-8-30, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/56-8-30.