Mexico.- The Institute of the National Fund for Housing for Workers (Infonavit), has become one of the ways through which Mexicans can access decent housing. However, many of the mortgage creditors have the same feeling that even though they make the monthly payment of their financing, they feel that their debt does not decrease and they see it as a marathon process.
However, in this 2022 Infonavit has launched some services through which beneficiaries can freeze their credit debt.
It should be noted that the main reason why your debt does not decrease is because your credit is lowered by the Minimum Salary Times (VSM) scheme, which means that the monthly payment is not fixed, but increases in relation to the increase it has Minimum salary.
Therefore, the new modality to freeze the debt is beneficial to those who wish to obtain fixed monthly payments in pesos to settle their debt.
However, applicants who wish to access this benefit must meet certain characteristics, one of which is that their mortgage loan was acquired before 2016.
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This procedure has been enabled in the Infonavit portal since last May and to request it you must go to the Single Window for Shared Responsibility and meet the following requirements.
- Be registered in My Infonavit Account
- The balance of your debt must be 1.3 times greater than that of your original financing.
- Receive income of up to 4 minimum wages.
- Not be older than 40 years.
- Have no debts in the last two years and have a credit financed for 15 years.
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