Preservation-related initiatives are being phased in, and MFA has implemented the rehabilitation initiative. The acquisition initiative will be implemented during the next phase, followed by the other predevelopment uses. The New Mexico Preservation Loan Fund is unique in that it is the only MFA rehabilitation program aimed at addressing the preservation needs of multifamily developments. With this fund, MFA strives to provide interest rates and loan terms that are more flexible than those offered by traditional financial institutions. “By implementing these much-needed programs, our goal is to help New Mexicans get into — and stay in — safe, affordable and energy-efficient homes,” said MFA Executive Director/ CEO Isidoro Hernandez. “Through these programs, MFA will improve and strengthen communities, whether it’s rehabilitating, restoring or preserving existing homes. We encourage eligible applicants for these programs to visit our website and apply for funding.” To explore all of MFA’s programs, visit housingnm.org. A Silver City woman received a new home thanks to the New Mexico Mortgage Finance Authority (MFA) and Southwestern Regional Housing and Community Development Corporation, which is a service provider for MFA’s HOME Rehabilitation Program. (Photos courtesy New Mexico Mortgage Finance Authority and Southwestern Regional Housing and Community Development Corporation.) A Deming veteran’s home received upgrades through New Mexico Mortgage Finance Authority’s Veterans Home Rehabilitation and Modification Program. Southwestern Regional Housing and Community Development Corporation, which is a service provider for the program, provided the rehabilitation services, including the installation of rails in the shower. (Photo courtesy New Mexico Mortgage Finance Authority.) New Mexico Mortgage Finance Authority’s (MFA) Restoring Our Communities program (ROC) helps 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.) MFA partners with service providers around the state to deliver rehabilitation services. 14
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