Frequently Asked Questions - Homeowners

do you help people that are behind in thier mortgage. and have been served with foreclosure papers

MFA does not directly assist.  However we refer to two agencies that can assist you, United South Broadway (USBC) and ILRC.  Their contact information can be found on MFA's website under the Homeowners tab, Foreclosure Prevention.

Where can I find out what my current 2nd Mortgage balance is?

We pay more than the minimum and it would be nice to have an account statement or somethings online we can look at our performance. It has been 15 months since we got the 2nd mortgage and we have never seen an account statement of any kind.  Thanks!

Please contact the MFA Servicing Department for this information; at this time MFA does not provide this information on-line.

I need to add my life partner as a Co-Mortgagor to my existing mortgage which is now in my name alone. How can this be done?

They cannot be added as a Co-Mortgager without refinancing and qualifying them on the loan. 

Where can I find an application for either home improvements or energy saving measures?

What would an application for home improvements, such as leaky roof, broken doors and windows, and a water leak in my outside wall, be listed under?  I found it once, but can't remember where.

The NM Energy$mart program is managed by four partner agencies who provide this service throughout New Mexico.  To find the provider for your area, enter this web address into your web browser http://www.housingnm.org/nm-energymart or call Gina Martinez, Program Specialist at 505-767-2274 or Michael Furze at 505-767-2256.

The HOME Owner Occupied Rehabilitation Program is managed by several partner agencies who provide this service throughout New Mexico.  Currently, MFA does not have full state coverage for this program.  To find out whether your home is in a covered area please contact Laurie Linden, Program Specialist at 505-767-2260.

I was told that my second mortgage would be forgiven after living in my home for 5 years. Why is it still owed?

There has been some miscommunication regarding MFA’s Second Mortgage Loans being forgivable after a period of 5 or 10 years.  Generally, Your loan is due on sale, transfer or refinance of the property.  If there is a forgivable provision on your loan, it will be stated in the Note and Mortgage or Award and Restrictive Covenant you signed at closing.  If there is not a "forgiveness" stipulation, the debt remains due.  Contact our MFA Mortgage Servicing Department (505) 843-6882 to discuss the specific terms of your loan regarding "forgiveness".