As of next May, the Institute of the National Fund for Housing for Workers (Infonavit) will give beneficiaries the possibility of paying their housing loans in pesos through the Single Window of Shared Responsibility program.
Carlos Martínez Velázquez, general director of the Institute, explained that beneficiaries will be able to carry out the process to convert their credit denominated in Minimum Salary Times (VSM) to pesos individually through My Infonavit Account.
He indicated that with this measure, which will benefit 3 million beneficiaries, people will be able to forget about the annual increases suffered by the credits granted to VSM, and have greater clarity of what they must pay month by month.
Currently the Institute has 6 million active credits, of which around 3.5 million are in VSM.
It should be noted that borrowers who have a securitized loan or have been granted through a financial institution cannot be restructured into pesos.
“With the Shared Responsibility program, it was possible to convert 280,000 VSM credits into pesos, with cancellations of 61,000 million pesos. However, it was a program that could only be accessed, for example, by rights holders who had been paying their credit for 15 years and who were over 40 years old,” recalled Martínez Velázquez.
He emphasized that now with the Single Window for Shared Responsibility, users who find it convenient to reconvert their credit will be able to request it with much fewer restrictions and without intermediaries.
“With this scheme we see less possibility of non-payment, since it will give workers peace of mind that their monthly payment is fixed. The payment of the credit sometimes reaches 30 percent of a worker’s salary, and even in some cases it is 70 or 80 percent,” he said.
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