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Safe, Affordable Housing for New Mexico Residents with Southwestern Regional Housing & Community Development Corporation

By Elisha Neubauer

You're most likely reading this from your cell phone, tablet, or laptop while sitting in front of the TV on your comfy couch or recliner. You've got a roof over your head and I bet you haven't even realized that you're experiencing a luxury that some are not privy to. Don't feel bad- it's easy to forget that housing doesn't come easily to everyone. It's just a topic that we've come to take for granted. It's the twenty-first century...we have iPhones, touch screen car displays, and talking computers; the last thing you think about is someone having to struggle to find affordable, safe housing.

This is the part in which Southwestern Regional Housing & Community Development Corporation steps in. They are a company with one goal in mind- to provide direct services to New Mexico residents to ensure safe, affordable and sustainable housing, with a focus on low income and mid-level residents. They do this through the utilization of several unique and efficient programs, such as Credit Counseling, the Homeowner Occupied Rehabilitation Program, Homebuyer Education, and Financial Literacy Education.

Because credit plays such a vital role in securing decent, affordable housing, the Credit Counseling program is perhaps one of the most important ones offered by the organization. "Credit Counseling can teach them to establish credit, grow credit scores and how to keep debt to income ratios low," explains Veronika Molina, Executive Director for the Southwestern Regional Housing & Community Development Corporation. "We also discuss types of credit and how much is needed to raise the credit scores or establish credit scores." This includes discussing the consequences of late payments and how it will affect credit history, important information for even the newest of credit holders.

"We assist many families become mortgage ready," states Molina. "We pull credit, assess debt to income, assess rental history, devise a realistic budget, and put them on an Action Plan to homeownership." But the partnership does not end when the individual reaches the desired outcome. "Once we determine that they are ready to be submitted for loan approval, we will submit the application with all the necessary documentation required for underwriting approval."

If you're looking to purchase a new home, Molina has some tips for you. "Current requirements differ," she states. "Some lending institutions require a minimum of 620 credit score; others require 640 or even 680. They must have a two year work history and some credit established." If you're fairly new to the credit game, don't fret. Molina and the team at Southwestern Regional Housing & Community Development Corporation may still be able to help you. "If they do not have established credit, we can use alternative lines of credit."

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About The Author

Elisha Neubauer is a freelance editor, ghostwriter, book reviewer, and author. She is...

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