The main state government housing agency in New Mexico is the New Mexico Mortgage Finance Authority. This Agency cares for all housing departments and programs, including state and federal housing programs. One of the goals of this Agency is to help homeowners avoid foreclosure and protect their homes.

In these difficult financial times homeowners are struggling more than ever to make their mortgage payments. The MFA has provided specific advice for New Mexico households which includes a set of steps you can follow to avoid foreclosure. None of these steps are, sadly, fail-proof. In some cases, homeowners can no longer afford buying a home and must look into alternative ways of dealing with their mortgage and look for other sources of housing. The MFA can help whether you think can save your mortgage or whether you need help finding the most graceful and financially efficient way out of your mortgage.

Step 1. The first think you should do is contact your lender. Your lender is ultimately the agency which will approve or deny a loan modification, refinance or other type of mortgage settlement. The sooner you contact your mortgage provider the more options you will have. Some mistakenly believe that talking to your lender will accelerate a foreclosure process. The opposite is true. Mortgage providers will start their foreclosure procedures as soon as you are late for your payments. If you contact them before this happens you may receive the help you need so you never have to fall behind in your mortgage payments.

Step 2. Steps 2 and 3 work together. As soon as you have contacted your lender and explained your situation, the lender’s loss mitigation department will start to analyze your financial situation and what is the best option for you and the lender. You should do the same. Find out what programs you qualify for and what you need to qualify. The main federal program for the protection from foreclosure is the Making Home Affordable program.

Step 3. Talk to a certified mortgage counseling agency. The federal government sponsors these agencies to provide free or low-cost advice to struggling householders. We include a list of the mortgage counseling agencies currently available , their service area and contact details. Notice that the MFA works with the United South Broadway Corporation and the ILRC Housing Division.

PARTICIPATING HOMEOWNERSHIP COUNSELING ORGANIZATIONS
 
Clovis Housing Authority 

Curry County

Waymon Dowdy

575-769-7902

Community Action Agency of Southern New Mexico – 

Las Cruces   

Dona Ana, Grant, Hidalgo, Luna, Otero and Sierra Counties
Shelly Almaguer

Kena Carriere

575-523-1639

Eastern Plains Housing Development Corporation  

Chaves, Curry, DeBaca, Eddy Guadalupe, Harding,  Lea, Quay, Roosevelt & Union Counties   

Sandra Hidalgo

Monica Moncada

575-763-8335

HOME New Mexico (MFA Helping Hand Loans)   

Bernalillo, Sandoval and Valencia Counties – may also be able to serve other areas   

Elena Gonzales

Elaine Leal

505-889-9486

Homewise   

Rio Arriba, San Miguel, Santa Fe and Taos Counties   

Michele Lis

505-983-6214

Las Cruces Affordable Housing, Inc.   

Dona Ana County– may also be able to serve other areas  

Virginia Bell

575-527-5648

Navajo Partnership for Housing  

Bernalillo, Cibola, McKinley and San Juan Counties   

Lavera Thompson

575-722-0551

Southwest Neighborhood Housing Services, Inc.  

Bernalillo, Sandoval and Valencia Counties – may also be able to serve other areas   

Robert Garcia

505-243-5511

Region VI Housing Authority

Chaves, Eddy, Lea, Lincoln and Otero Counties   

Kelly Leflar

575-622-0881 ext. 25

Santa Fe Community Housing Trust  

Santa Fe County    

Nellie Martinez

Ron Chavez

505-989-3960

Tierra Del Sol Corporation   

Dona Ana County   

Art Marrujo

575-541-0477

United South Broadway Corporation 

Bernalillo, Sandoval, and Valencia Counties   

Tim Gardener

505-764-8867

YWCA – Consumer Credit Counseling Service  

Dona Ana and Otero Counties   

Dolores Rosell

575-532-1222

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