Couple Receives Loan Money, Defaults, Sues, and Gets Attention of NM Supreme Court

According to the Albuquerque Journal a Chimayó couple that collected $39,000 in cash out proceeds from a mortgage refinance and then soon defaulted, has managed through protracted litigation, to avoid foreclosure since 2007. Their seemingly simple case of a loan default has managed to reach the NM Supreme Court. In October 2011, the New Mexico Court of Appeals upheld the ruling of former state District Judge James Hall. Hall ruled in favor of the lender and against all of the borrower's counterclaims.
It seems that after the couple received and spent $39,000 in cash proceeds back in 2006, they defaulted and claimed that their lender, had taken advantage of their "limited education." According to the Journal story, court records show that the couple took out the loan in question to pay off another lender. The previous lender had also accepted the home as collateral. The couple apparently used the original mortgage funds to start a business. Reportedly the "cash out" money from the refinancing loan in question was used to pay off credit card and other debt, plus inject additional capital into their music and clothing store business in Española. Read full story here (subscription required): News New Mexico

Couple Receives Loan Money, Defaults, Sues, and Gets Attention of NM Supreme Court

For New Mexico, the possibilities are endless



Heath Haussamen

NMPolitics - We have so many problems in New Mexico, but we also have so much potential. Here’s to hoping that, during our 200th year of statehood, we look back at the time when New Mexico was near the bottom of every positive list as a thing of the past. I traveled much of New Mexico in the last two weeks to visit family, making the trek up to Bloomfield and Farmington before heading into Colorado. In the last two days, I’ve traveled all the way through New Mexico from Raton in the north to Las Cruces in the south.
The trip reminded me of our state’s diversity and beauty. On the day that we celebrate 100 years of statehood, I thought it was important to pause and reflect.
I spend a lot of time criticizing government in New Mexico. There’s lots to criticize; we remain near the bottom of most positive lists, not because we don’t have the ability to do better, but because we don’t choose to do better. Read full column here: News New Mexico

For New Mexico, the possibilities are endless

WildEarth Guardians At it Again

From abcnews.com -A federal judge has halted three tree-cutting projects in Arizona and New Mexico that environmentalists contend could harm the Mexican spotted owl. WildEarth Guardians sued the U.S. Forest Service in 2010, claiming the agency ignored its responsibility to track the owl's numbers in the two states. The judge's decision Thursday to grant a preliminary injunction means the projects cannot move forward until the Forest Service consults with the U.S. Fish and Wildlife Service on the impacts to the owls.  More News New Mexico

WildEarth Guardians At it Again