AG Helping New Mexicans Avoid Foreclosure

Holding on to the American dream of homeownership has become a nightmare for many New Mexicans. AG King is trying to do something to alleviate the economic and personal stress that comes with facing the specter of foreclosure. It is called the Homeownership Preservation Program.

It’s not sexy or particularly newsworthy apparently, but the program certainly will positively affect the lives of a good many of our state’s homeowners who find themselves in the seemingly hopeless position of losing their homes.

The Attorney General’s Office issued a Request For Proposals (RFP) last week to solicit contractors capable of providing a number of remedial services recently funded by a legal settlement reached with top national banks for foreclosure abuses and fraudulent practices. The settlement allocated millions in potential homeowner relief; approximately 11 million dollars over the next three years will come directly to New Mexico for Attorney General King’s program.