Mexico City. – The Institute of the National Housing Fund for Workers (Infonavit) introduced the “Clean and New Account” program under private agreement for accredited persons who have not paid between one and nine monthly installments.
Carlos Martínez Velázquez, General Director of Infonavit, pointed out that 128,000 workers currently have access to this program, regardless of whether they have a current employment relationship.
Additional requirements for access to this program include that the borrower has exhausted their unemployment insurance (payment protection fund); that your loan is not in the legal process; or that you still have to pay at least 12 monthly installments, among other things.
“The beneficiaries who make their payments on time after applying the solution and the established criteria could receive an economic advantage that helps them reduce their current debts,” Velázquez said at a conference.
He explained that under the program, which can be applied for up to twice a year, the unpaid monthly installments, together with interest, are added to the principal balance of the loan.
In addition, the monthly payment remains the same as before using the product and late payment interest is waived; If credits are overdue, unpaid surcharges and commissions will be waived.
Martínez Velázquez noted that one of the main reasons why a beneficiary stops repaying his loan is mainly because he has lost his job and he does not see the “usefulness” in continuing to repay a loan that has all the services.
Infonavit assured that borrowers who owe up to nine monthly payments contribute 6.1 percent to the institution’s delinquent portfolio index, while beneficiaries with ten or more missed monthly payments contribute 12.71 percent.
“For people who owe more than nine monthly payments, there are other types of restructuring and support programs. “This document that we present is aimed at those accredited who meet these characteristics. There are 128,000 people and it is being updated,” he emphasized.
According to Infonavit, one of the conditions for receiving the economic benefit for people with a formal employment relationship is that a bi-monthly payment from their employer must be shown in the Infonavit records.
Those without a formal employment relationship, on the other hand, must make three full payments in a row, provided they remain in the same regime (formal employment or no formal employment) from start to finish.