ALBUQUERQUE, N.M. (KRQE) – New Mexico’s Mortgage Finance Authority (MFA) has unlocked $4 million in funds for the “Restoring Our Communities” program. The money can be used to buy, rehabilitate, and resell vacant single-family homes.
“By implementing this much-needed program, our goal is to help our fellow New Mexicans get into affordable homes, while at the same time, improve and strengthen communities by eliminating houses that are vacant or have been abandoned,” Isidoro Hernandez, the executive director and CEO of the MFA, said in a press release.
Groups like nonprofits, government housing agencies, developers, and even corporations may be eligible to access funding on a first-come, first-served basis. To receive funding, groups must have a marketing plan to resell the home once rehabilitated. For more info, you can find more information on the MFA’s website.