Cut the 1 (16-ounce) package Velveeta cheese into cubes.
Combine the cubed cheese, 1 cup milk, 2 teaspoons paprika, ½ teaspoon cayenne pepper, 3 teaspoons chili powder, ½ teaspoon ground cumin, 1 (15-ounce) can Hormel Chili with beans, cooked ½ pound cooked ground beef, 1 tablespoon lime juice, and 1 diced roma tomato in a medium saucepan.
Cook over medium heat for 10 minutes, stirring frequently until the cheese melts. Enjoy with tortilla chips!