Alista Infonavit restructures for Mortgage loans

For this year, Infonavit will apply a plan to change the debt of 3.7 million people to pesos and thereby provide definitive relief to the financial burden of families.

At the end of 2020 there were 3 million 725 thousand 334 borrowers who have their debt in Times Minimum Wages (VSM) and see the balance grow when the Unit of Measure (UMA) is adjusted.

As of 2014, all credits are granted in pesos at a fixed rate and since 2017, VSM credits increase in accordance with the increase in the UMA, which is equal to annual inflation.

Óscar Vela, deputy director of financial planning and supervision of the Institute, explained that the loans in VSM are mainly complicated by losing the employment relationship, which makes the balances “unpayable”, so a first plan was started, Shared Responsibility, but now it seeks to extend it to all borrowers.

“We are calling it a universal model, where whoever has a loan in minimum wages can convert it to the new loan in pesos,” he said.

For Fernando Soto-Hay, general director of Tu Hipoteca Fácil, it is a measure that will have a greater impact than other innovations at the Institute.

“Here it is very easy to identify the beneficiaries, the more than 3 million credits denominated in minimum wages are multiplied by 4 inhabitants per house, there are the beneficiaries, the impact is enormous,” he said.

He pointed out that until now the adjustment in balances, which has been a historical demand of the borrowers, had been completely ignored.

Until last December, Infonavit restructured 258 thousand 700 loans in VSM to pesos through the Shared Responsibility program and another 10 thousand 463 through the Comply Account program. ///Reform