Rural refinance program to launch

CNJ staff

The U.S. Department of Agriculture will launch a single family housing guaranteed rural refinance pilot program in New Mexico to help rural borrowers refinance their mortgages, according to U.S. Sen. Tom Udall, D-N.M.

To be eligible under this pilot, borrowers must have made timely mortgage payments for 12 consecutive months.

Rural residents can contact their banks to participate in the program.