State Codes and Statutes
Statutes > New-mexico > Chapter-56 > Article-8 > Section-56-8-3056-8-30. No prepayment penalty on home loans.
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.