3 Common Myths about Infonavit Mortgage Credits in Mexico

Written in MONEY he 8/10/2023 · 08:13 hs

In Mexico, the Institute of the National Housing Fund for Workers (Infonavit)is the organization that is responsible for granting mortgage credits to employees who contribute to the Mexican Social Security Institute (IMSS)However, there are myths about credit that the institute gives, according to +Money of Forbes Mexicolos 3 myths most common have been clarified.

According to the National Council for the Evaluation of Social Development Policy (Coneval), decent housing is a right which implies that citizens of all economic and sociocultural levels have the possibility of accessing a living place of quality, with basic services and that meets ethical quality standards.

However, in Mexico, currently the possibility of obtaining a credit mortgage to buy one casa may be more complicated than a few years ago, since the points scheme that the Infonavit In order to release a loan to a worker, it takes into account not only the income and seniority of the interested party, but also the behavior of the company in which he or she works.

READ ALSO: Infonavit Credit: The warning for those who are going to buy a house through a transfer

Which are the 3 myths about him Infonavit credit in Mexico?

According to an interview for the aforementioned media, Pedro Valenzuela, general coordinator of social collections of the Infonavithas clarified the myths about credits that the institute provides to workers and what is behind the following myths:

• The debt with condone past the 30 years after having obtained the credit:

Valenzuela explained that the credit is only released after making 360 effective payments, which is why he recommended that the account statement of the credit and validate the progress of your credit payments on a monthly basis. “In the statement of account of the credit There is a box that indicates ‘amount to pay’, that is the counter figure for the 360 ​​payments,” he stressed.

• Return from casa if you can’t continue paying:

This is a reality, however, you need to know the details of this option. In this regard, Valenzuela explained that the ideal is to try to find a payment model to avoid losing the house that you obtained with the Infonavit credit. The alternative of returning the house is called “dación de pago” in which the property is returned, but this procedure must be done through a legal manager that the institute has authorized and those interested must approach the legal area of ​​the local CESI or regional delegation of Infonavit to start the process, which is slow, because there must be opinions and other procedures.

• Leave the house if the owner of the credit can not pay the debt:

According to the specialist, this is not the best thing to do, since when you leave home or even change jobs, the new employer will ask if you have a debt with the Infonavit and the debt will continue to be deducted from the payroll regardless of the state of the property.

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