The New Mexico Mortgage Finance Authority is now accepting applications for assistance from New Mexicans who are behind on their housing payments due to the COVID-19 health crisis.
During a special session of the New Mexico Legislature on November 25, $330 million in CARES Act Coronavirus Relief Fund funding was allocated to address the impact of the COVID-19 crisis in New Mexico. Included in the funding was $15 million for housing cost assistance, which will be administered by MFA. This amount is in addition to the $12.3 million Gov. Michele Lujan Grisham previously allocated, bringing total housing cost assistance funding to $27.3 million.
Eligible recipients can receive as much as $1,500 per month for up to three months to cover past-due rent or mortgage payments. Payments on real estate contracts, mobile or manufactured home liens, and the land or lots on which they are located may also be covered.
The funding targets New Mexico households with incomes of 80 percent or less of the area median income and residents of tribal lands. Applicants must certify that their income was negatively impacted by COVID-19 and provide proof that their housing payments are currently past due.
Applications can be made through MFA’s website: housingnm.org. A complete list of qualifying criteria and income limits as well as a list of required documentation can also be found on the website.