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FIRST STATE BANK v. MUZIO

No. 14301.

666 P.2d 777 (1983)

100 N.M. 98

FIRST STATE BANK, Plaintiff-Appellee, v. Edward J. MUZIO, Marie L. Muzio, his wife, Defendants-Appellants, v. BANK OF NEW MEXICO, as Assignee of Mountain States Financial Corporation, Timothy M. Padilla and Michael Alarid, Jr., Defendants-Appellees.

Supreme Court of New Mexico.

July 15, 1983.

Attorney(s) appearing for the Case

Thomas M. Brown, Albuquerque, for defendants-appellants.

Robert R. Fuentes, Albuquerque, for plaintiff-appellee.

Modrall, Sperling, Roehl, Harris & Sisk, Zachary L. McCormick, Albuquerque, for defendant-appellee Bank of N.M.

Timothy Padilla, Michael Alarid, pro se.

OPINION

PAYNE, Chief Justice.

This case presents the question of whether a party who has failed to raise the issues of homestead exemption and collection priorities in a prior default judgment action may be barred from litigating these same issues in a later foreclosure action.

First State Bank brought an action against Edward Muzio seeking judgment on a $9,500.00 promissory note for which he was a guarantor...

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