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NEW MEXICO STATUTES AND CODES
Section 56-8-30 - No prepayment penalty on home loans.
56-8-30. 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.
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