Service providers who apply for project funding will be scored on their financial strengths, experience in acquisition, rehabilitation and sale of real property, implementation plan and readiness to proceed. They must have a marketing plan in place, including working with lenders and real estate sales agents, to advertise and sell to the targeted homebuyers once the home rehabilitation is completed. “We look forward to working with qualified service providers that will continue to create affordable housing opportunities for New Mexicans,” said Theresa Laredo-Garcia, MFA Program Development Manager. “Communities are stronger when homeowners take pride in their neighborhoods, and that starts with eliminating vacant houses in the community.” Low-moderate- and middle-income households or individuals are qualified beneficiaries of the ROC Program. The maximum limit for middle-income households is 150% area median income. For example, in Valencia County, 150% of the area median income for a family of four is $119,850. If you have any questions about the ROC Program, please contact Theresa Laredo-Garcia at tgarcia@housingnm.org or (505) 767-2244. The New Mexico Mortgage Finance Authority (MFA) launched its new Restoring Our Communities Program (ROC) on September 1, 2023, to help meet New Mexico’s need for affordable housing units while assisting communities in reducing vacant and abandoned houses that decrease property values. MFA allocated $4 million in funding from the New Mexico Housing Trust Fund to the ROC Program. This before-and-after photo is an example of a previous home restoration project made possible by MFA. (Photos courtesy Homewise and Google Earth) 19
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