Infonavit programs for people who lowered their income and pay a credit

Because of the pandemic, many people are suffering the economic devastation. If you are one of the people who took out an Infonavit loan and your income was reduced, we present you 8 support programs of this institution:

Technical Stoppage due to COVID-19

Tailor-made solution

Payment Protection Fund

Opinion of Ability to Pay

Eraser and New Account

Socio-economic study

Mediation

Support for pensioners and retirees

Technical Stoppage due to COVID-19

If the company where you work is in technical unemployment and you have financing that is up-to-date in all payments and without current restructuring, you can get support for up to 12 months to reduce your monthly payments to 25%.

This support applies to all mortgage loans generated in VSM, for borrowers who pay under the Ordinary Amortization Regime (ROA) and for those who have financing in fixed payment.

In order to benefit from this Infonavit support program, the company where you work must have the request or authorization for the temporary modification of working conditions agreement, which is authorized by the Conciliation and Arbitration Board. Subsequently, the department in charge will have to bring the document and attach the list of workers who will receive this benefit.

Tailor-made solution

This support for workers consists of a mortgage loan restructuring based on your debt and ability to pay. The program applies to beneficiaries who have financing in Times Minimum Salaries (VSM) and in pesos between 2014 and 2017.

From the above, an amount will be determined that you will pay during a period of 12 months. The great advantage of this program is that you can renew it as many times as you need it, as long as you continue to show a decrease in income. It is important that you also comply with the following:

In case of having a new job, you must meet at least three bi-months of continuous contribution and your credit must have a minimum of two years.

If you don't have a job, your credit must be at least one year old.

To request the support, you will have to go to the Infonavit Service Center (Cesi), where the financing was granted and you must deliver the following:

Social Security number (SSN) or credit number.

Copy of an official identification.

Proof of address.

Or if you prefer, contact Infonatel to request a visit from a certified collection advisor. The professional will offer you the solution that best suits your needs.

Payment Protection Fund

It is a fund that is mainly made up of contributions from mortgage loans originated since January 2009, which are equivalent to 2% of the monthly payment and which are included in the payroll discount.

This Infonavit program benefits the beneficiaries who lost their jobs as long as the reason is not pension, retirement, disability or disability. This support covers the financing payment for up to 6 months. It can be used every 5 years as long as the borrowers do not have another type of agreement or extension from the institute.

Opinion of Ability to Pay

This support for workers is a temporary reduction in the payment of your mortgage loan, which is determined from your monthly income and your expenses. In this program, beneficiaries who have credits in VSM through an agreement can also participate.

To obtain this benefit, an Infonavit certified collection advisor will visit you at your home to carry out a survey to determine your ability to pay and confirm if you are a candidate to receive this support.

Eraser and New Account

In case you have past due monthly payments on your mortgage loan, either due to job loss or inability to pay, this support for workers will help you to regularize the financing by adding the due monthly payments to the current balance of your financing.

In case of having a job for which at least 3 continuous payments were made via payroll, or if you do not have a job and made 6 continuous payments on your mortgage, this support will apply an automatic regularization as long as you do not have a current credit restructuring in the Institute. It is important that you wait for the notice that will arrive via postal mail at your address to confirm that you are eligible. If you do not agree to this program, you must call Infonatel and request its cancellation.

On the other hand, in case the aforementioned payments have not been made, you can sign an agreement. For this you will have to go to the collection area of ​​the corresponding CESI and present your Social Security Number (SSN) or credit number, copy of an official identification and proof of address. Or if you prefer, you can contact Infonatel and request the visit of a certified collection advisor.

Socio-economic study

This infonavit program not only benefits you as a beneficiary but also your family, since if your income has been affected by a chronic degenerative disease, be it yours, your spouse or one of your children, You will be able to access this support for workers.

To request it, you will have to go to the Infonavit Collection area corresponding to your entity or contact Infonatel by phone so that an advisor can tell you the steps to follow. Subsequently, a social worker will visit your home and determine your real ability to pay; And every year your financial situation will be reviewed to evaluate the renewal of support.

Mediation

Mediation is an Infonavit support program that consists of requesting the help of a neutral and impartial mediator to find the best solution for the payment of your financing and to prevent a judicial process from being initiated.

This process is carried out through a session in which an independent professional facilitates communication between the beneficiary and the institute to help him find the best solution to payment through an agreement.

Support for pensioners and retirees

Finally, there is support for the mortgage loans of retirees and pensioners who acquired their home before October 29, 1999. This program consists of Infonavit offering a new monthly payment amount according to your pension. That is, the replacement of the last salary recorded as the basis of payment of the beneficiary is offered, for the amount of his pension. It only applies for credits in VSM and is conditional on the monthly payment.

If you have questions or require more information, you can contact Infonavit at 800-008-3900.

With information from Vivanuncios.