How to Get Help: 1-866-227-5114
Campaign Details: The Statewide New Mexico campaign was launched in December 2004. This statewide Don’t Borrow Trouble coalition is focusing on priority areas in Bernalillo County that are federally designated pockets of poverty and in rural areas where there are high levels of poverty and predatory lending, including Gallup, Farmington, and Las Cruces.
The campaign will focus on educating and protecting consumers through community outreach and awareness by providing referrals for counseling and/or legal services and arranging training for attorneys, housing counselors, community organizations, and social service agencies so that these organizations can provide more effective anti-predatory lending counseling. The counseling agencies providing financial literacy training and credit counseling will use a curriculum that covers home buyer issues such as mortgage loan process, home equity lending, working with realtors, underwriting, loan products, interest rates, points or fees, borrower’s ability to repay, pressure tactics, and negotiating in Spanish but providing documents in English.
A statewide Anti-Predatory Lending Roundtable has been formed to participate in the Don’t Borrow Trouble Campaign, including Project Change Fair Lending Center, United South Broadway Corporation, New Mexico Legal Aid, Senior Citizen’s Law Office, and Bernalillo County Housing Authority. The Roundtable will develop strategies, written materials, and coordinated activities.
Partners:
| Americans
for Indian Opportunity |
Freddie
Mac |
New Mexico Legal Aid |
| Anti-Racism Training Institute of the Southwest - UNM School of Law | Home Education Livelihood Program, Inc. | Office of the New Mexico Lt. Governor |
| Association of Community Organizations for Reform Now | Home New Mexico | Office of the New Mexico Attorney General |
| Bernalillo County Housing Authority | Law Access New Mexico | Project Change Fair Lending Center |
| Center for Responsible Lending in North Carolina | New Mexico Project for Financial Literacy | Rural Housing, Inc. |
| City of Albuquerque Human Rights Office | National Consumer Law Center | S.E.R. de New Mexico |
| City of Albuquerque - Office of the Mayor | National Housing Law Project | Senior Citizen’s Law Office |
| Community Reinvestment and Development Task Force (CREDIT) | National Community Reinvestment Coalition | United South Broadway Corporation |
| Department of Community and Regional Planning, University of New Mexico | New Mexico Community Development Loan Fund |