ALBUQUERQUE, N.M. (KRQE) – Albuquerque Mayor Tim Keller has signed a bill providing loans to low-income homeowners for home repairs. Through the PATCH program, the city will lend up to $75,000 to fix problems like a failing roof or foundation, broken plumbing, or malfunctioning water heaters. The loans are zero-interest and forgivable.
City leaders said the PATCH program is a lifeline for homeowners. “People want to stay in their homes. Unfortunately, they’re older. They are in retirement. Their income hasn’t increased, but the costs of everything has increased post-COVID and other things, right?” said Gilbert Ramirez, Director of the City of Albuquerque Health, Housing & Homelessness Department.
The PATCH program expands upon a similar effort, the federal Home Rehabilitation Program, which was funded through the American Rescue Plan. That program has around $1 million remaining.
