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Safety measures and support for COVID-19 workers | The National Fund for Workers’ Housing [in Spanish: INFONAVIT]

Safety measures and support for COVID-19 workers | The National Fund for Workers’ Housing [in Spanish: INFONAVIT]

Apr 01, 2020
Articles

On March 26, 2020, INFONAVIT published bulletin #18 on its website that mentions the safety measures and support for workers pertaining to the COVID-19 health emergency. The measures are listed below:

1.- INFONAVIT will cover up to 3 months of mortgage payments for those borrowers whose employment is terminated. The latter will not have to cover any associated copayment. The corresponding monthly payments of this support would be for the months of May, June, and July of the current year.

2.- A payment deferral of the monthly mortgage payment will be granted to any borrower whose continued employment or income is affected. This deferral includes an initial 3-month period that may be extended up to 3 additional months. This payment deferral will not incur interest.

3.- INFONAVIT will apply a reduction of at least 25% from the discount factor, and a period no greater than 12 months may be applied for those borrowers in the companies in which they are employed when a work stoppage is announced. In addition, the institute may authorize a temporary deferral of up to 3 monthly renewable repayments, which must be applied for by the employer through the means of communication determined by the institute.

4.- The institute will expedite particular documents for those workers who have decided to take on a mortgage, with the aim of easing any possible economic downturn.  

The aforementioned support will be available as of April 15 on the website: “My INFONAVIT account”, and must be requested by those borrowers who fulfill the defined characteristics.

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Posted by Hero Manager Apr 01, 2020 Categories: Articles COVID-19, INFONAVIT

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Recent Posts

  • The Pension System Reform
  • Resumption of deadlines for acts and procedures in charge of the INFONAVIT.
  • NEW VERSION OF THE SINGLE SYSTEM OF SELF-DETERMINATION [in Spanish: Sistema Único de Autodeterminación] (SUA) 3.6.0
  • Criteria for the return to activities for high-risk groups
  • Withholding for outsourcing services is added to Sinaloa’s State Tax.

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