Foreclosures in New Mexico can be either judicial (where they go through court) or nonjudicial (where they bypass the court system). Either way, you are entitled to certain notices. Below you can learn about the key features of these procedures and notices. In addition, certain counties in New Mexico have implemented a foreclosure preventation mediation process. If you live in one of those counties, you may have the opportunity to negotiate with your lender and possibly avoid foreclosure.