New Mexico is the latest state to implement a free foreclosure hotline for residents who are in danger of losing their homes, according to KRQE.com.

The Association of Community Organizations for Reform Now (ACORN) — the largest community organization of low and moderate income families in the United States –is spearheading the initiative.

With more than 1,700 active foreclosures in 2006 (according to Foreclosure.com) — and bad subprime mortgage loans possibly exacerbating the situation — ACORN wants to ensure that families in New Mexico get all the necessary help to save their homes from bank repossession.

Here’s a snip from an ACORN spokesperson:

“We have home-loan counselors. They will sit and talk with you about your mortgage, what you can pay, what is reasonable for you to pay and still maintain your other bills, feed your family. They will go represent you to the lender and say this is what we have, this is what we can do, will you work with us?”

New Mexico homeowners facing foreclosure should take advantage of this resource as soon as possible — it’s FREE foreclosure assistance.

Contact a counselor toll-free at the New Mexico foreclosure hotline at 866-67-ACORN (866-672-2676).