New Mexico accelerates pace of rental assistance payments

By MORGAN LEE
Associated Press

SANTA FE, N.M. (AP) — State financial officials says about $38 million has been paid out in federal rental and utility assistance in an effort to stabilize the housing market and avoid future evictions. Finance and Administration Secretary Deborah Romero briefed a legislative panel Thursday on the pandemic relief program. The state has streamlined efforts to deliver rental assistance aid, allowing seven days for landlords to collect rental assistance before depositing money with tenants. The aid program can be used for a variety of housing obligations to pay off past overdue rent payments, bills for transitional housing in motels and even so-called rent-to-own contracts in which rent may counts toward purchasing.