A couple was arrested by authorities after they have been caught committing a bank foreclosures-related scam. They advertised on Craigslist, acted as landlords and rented the property to a family of ten.
Home sales in the Albuquerque spiked by almost 20 percent in the first quarter as Albuquerque foreclosures drove down house prices. The average and median prices dropped to $209,283 and $172,000, respectively, in the first quarter.
Homes in bankruptcy and foreclosure owners have become more active in New Mexico. Most of them are reportedly going to court to fight for their properties.
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