New Mexico HOA Assessments, Liens & Foreclosure (NMSA 47-16; 47-7C-16)

For non-condominium HOAs, New Mexico's Homeowner Association Act sets disclosure and governance rules but contains no statutory assessment lien, so an association's authority to lien or foreclose comes from its recorded declaration and general contract/lien law. Condominium associations have an express statutory lien under NMSA 47-7C-16: a lien attaches 'from the time the assessment or fine becomes due,' may be 'foreclosed in like manner as a mortgage on real estate,' and is 'extinguished unless proceedings to enforce the lien are instituted within three years after the full amount of the assessments becomes due.' A judgment may include costs and reasonable attorney's fees for the prevailing party, and recording the declaration perfects the lien.

No statutory penalty beyond the debt: unpaid assessments plus interest, late charges, collection costs and attorney's fees allowed by the declaration (or, for condos, NMSA 47-7C-16). HOA-lot foreclosure proceeds under the declaration; a condo lien forecloses like a mortgage.