Newscasts

PNS Daily Newscast - October 18, 2019 


Baltimore mourns Rep. Elijah Cummings, who 'Fought for All.' Also on our rundown: Rick Perry headed for door as Energy Secretary; and EPA holds its only hearing on rolling back methane regulations.

2020Talks - October 18, 2019 


While controversy swirls at the White House, the Chicago Teachers Union goes on strike, and retired Admiral Joe Sestak walks 105 miles across New Hampshire.

Daily Newscasts

NM Preparing for Surge in Foreclosures

October 15, 2007

Albuquerque, NM – The foreclosure crisis may be on its way to New Mexico. Although the state ranks 37th in the nation in numbers of mortgage foreclosures, that's up from 45th in August, and analysts say conditions are ripe for the problem to worsen. The situation has government officials, businesses and consumer activists busy developing strategies for people at risk of losing homes.

Ona Porter with Community Action New Mexico says Valencia County is one area facing trouble.

"It is expected to be the county with the second highest foreclosure rate in the nation."

Factors that put homeowners at risk include predatory lending practices, and businesses that lure buyers to purchase more expensive homes than they can really afford. Porter says there will soon be help available for people who are able to refinance delinquent or burdensome loans.

"We're going to be trying to find ways for people to sell their homes, or take other actions that prevent them from just losing all of their assets."

Community Action New Mexico is among the groups meeting this week to develop protection plans for New Mexico borrowers. Participants include representatives from the New Mexico Attorney General and Lieutenant Governor's offices, as well as public law organizations, financial institutions, and educators. The meetings begin on Tuesday.

John Robinson/Eric Mack, Public News Service - NM