Udall: USDA Pilot Program to Help Rural N.M. Homeowners

WASHINGTON –U.S. Senator Tom Udall (D-NM) today announced that the U.S. Department of Agriculture will launch a new Single Family Housing Guaranteed Rural Refinance Pilot Program in New Mexico to help rural borrowers refinance their mortgages.

Currently, approximately 2,000 New Mexico families are enrolled in the Single Family Housing Guaranteed Program. They are now eligible to refinance their homes at a lower interest rate and reduce their monthly mortgage payments. To take part in the new pilot program, rural residents are encouraged to contact their banks.

“I applaud the Obama Administration for expanding their homeowner assistance programs in New Mexico,” Udall said.