Choosing to suspend your mortgage payment can save your home. Here’s when it’s possible to proceed in this way
High interest rates make it increasingly difficult to afford variable mortgage payments. It may be necessary to request a suspension of payments. When you are unable to pay the installment it is, in fact, a good idea to act before you risk losing your house. Unfortunately, it is happening more and more often that families are in difficulty due to the ten months of rate increases decided by the European Central Bank.
Skip the mortgage payment legally (Computer-idea.it)
Those who subscribe to a variable mortgage suffer the most from these decisions. The installments doubled in a few months going from 500 to 1,000 euros, if not worse. With just one salary it is impossible to support such costs and for a large family it is also impossible with two normal salaries. People who have recently taken out a mortgage and accepted a very high instalment, from 700 euros and up, are also in difficulty. With such a high amount it takes very little to fail to pay what is owed. The only solution could be to suspend the mortgage payment.
How to request mortgage payment suspension
The suspension of the mortgage payment is a measure created to help families in conditions of economic hardship. It allows you to avoid paying monthly installments for a maximum period of eighteen months by extending the repayment plan. Necessary condition to stay within the maximum amount of the mortgage which in 2023 is set at 400 thousand euros.
Who can suspend mortgage payments (Computer-idea.it)
Requesting a stop no commission or investigation costs will have to be paid. Entrepreneurs, self-employed people, freelancers, undivided ownership building cooperatives and owners of a first home for which they pay the mortgage to be suspended apply for suspension. And again, workers who have had a suspension from work for at least thirty days or a reduction in working hours for at least thirty days, a termination of the employment relationship or the recognition of a serious disability.
To take advantage of the measure, there must be verified situations of temporary difficulty. Specifically, you will need to have registered a drop in turnover of at least 33% compared to the last quarter of 2019 due to the Covid 19 restrictions. The Gasparrini Fund will also undertake to pay 50% of the interest accrued during the payment stop period. To access the Fund, simply fill out the reference form available online on the Abi, Consap or Treasury Department of the Ministry of Economy and Finance websites.
2023-11-14 17:00:58
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