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CANM Home > New Mexico Assets Consortium
nm assets
Banking HELPjam
Luis Padilla of HELP NM and Sondae Grano of Samaritan House
have coordinated with their local banker, 1st National Bank of Las
Vegas, to ensure that every IDA Saver gets off to a great start.
Both agencies have decided that no IDA Saver will have to go to
the bank alone for the account opening procedure. HELP and
Samaritan House want IDA Savers to feel comfortable with the
project and with the account open process and have decided that
having the IDA Coordinator go with the IDA Saver to the bank is a
great way to start the relationship. Way to go Luis and Sondae!
Test your homeownership readiness
With the continued rise in foreclosure rates it is more important
than ever to make sure that our IDA Savers who are ready for
home ownership. This helpful list of questions from Homewise
in Santa Fe can be used to help to asses readiness for home
ownership.
Financial literacy course graduates 18
Last spring in T or C, eighteen students attended an awards
luncheon to celebrate their successful completion of a 20-hour
financial management and planning course. The New Mexico
Assets Consortium, a project of Community Action New Mexico,
facilitated the free financial management course, commonly
taught by Certified Financial Planners.
The New Mexico Assets Consortium also funds matched savings
plans known as Individual Development Accounts. The Individual
Development Accounts (IDAs) match personal savings at a rate
of $4.00 for every $1.00 saved, with a limit of $4,000. These
accounts can be used to build assets through education, home
purchase, or small business.
Luis Padilla of HELP NM and Sondae Grano of Samaritan House
have coordinated with their local banker, 1st National Bank of Las
Vegas, to ensure that every IDA Saver gets off to a great start.
Both agencies have decided that no IDA Saver will have to go to
the bank alone for the account opening procedure. HELP and
Samaritan House want IDA Savers to feel comfortable with the
project and with the account open process and have decided that
having the IDA Coordinator go with the IDA Saver to the bank is a
great way to start the relationship. Way to go Luis and Sondae!
Test your homeownership readiness
With the continued rise in foreclosure rates it is more important
than ever to make sure that our IDA Savers who are ready for
home ownership. This helpful list of questions from Homewise
in Santa Fe can be used to help to asses readiness for home
ownership.
Financial literacy course graduates 18
Last spring in T or C, eighteen students attended an awards
luncheon to celebrate their successful completion of a 20-hour
financial management and planning course. The New Mexico
Assets Consortium, a project of Community Action New Mexico,
facilitated the free financial management course, commonly
taught by Certified Financial Planners.
The New Mexico Assets Consortium also funds matched savings
plans known as Individual Development Accounts. The Individual
Development Accounts (IDAs) match personal savings at a rate
of $4.00 for every $1.00 saved, with a limit of $4,000. These
accounts can be used to build assets through education, home
purchase, or small business.
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Community Action New Mexico 400 Central Ave. SE #101 Albuquerque, NM 87102 505.217.2747
info@communityactionnewmexico.org webmaster@communityactionnewmexico.org
info@communityactionnewmexico.org webmaster@communityactionnewmexico.org
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subprime lending crisis
Millions losing their
homes to foreclosure
November 27, 2007 -- It is
estimated that 7.2 million families
in the United States have
subprime mortgages. Of these
14.4%, or 1.04 million, are
currently in default. This according
to a new statistics by the Center for
Responsible Lending. In the last
ten years, the subprime loan
industry has emerged as a major,
and controversial, player in the
housing market. Under a
subprime loan, customers with
low credit ratings are offered
mortgages in return for high
interest rates. Proponents have
advocated subprime financing as
a way for low-income residents to
own their first home. But new
figures suggest the subprime
industry is having the opposite
effect.
Listen to segment
View stats
homes to foreclosure
November 27, 2007 -- It is
estimated that 7.2 million families
in the United States have
subprime mortgages. Of these
14.4%, or 1.04 million, are
currently in default. This according
to a new statistics by the Center for
Responsible Lending. In the last
ten years, the subprime loan
industry has emerged as a major,
and controversial, player in the
housing market. Under a
subprime loan, customers with
low credit ratings are offered
mortgages in return for high
interest rates. Proponents have
advocated subprime financing as
a way for low-income residents to
own their first home. But new
figures suggest the subprime
industry is having the opposite
effect.
Listen to segment
View stats
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