Mexico City, Mexico /
During the six-year term that concluded the Institute of the National Housing Fund for Workers (Infonavit) undertook its transformation for the benefit of all beneficiariesand awarded more than 2 million 770 thousand credits
According to the institution, the loans were for the purchase of new or existing housing, land acquisitionconstruction, home improvements and repairs, and debt payment bank mortgages.
The granting of these credits involved a economic spill of 1.3 billion pesos, the highest figure recorded in the history of the Institute and more than 5.4 million people with a Payment Solution and more than 1.3 million credits were converted Times Minimum Wage (VSM) to pesos.
“The milestone that marked this transformation, in line with the nation project of the (former) president Andrés Manuel López Obrador and Mexican Humanism, was to put the workers at the center of all its actions, thus ending the financial abuses of the past and the privileges of the development companies.”
Infonavit assured that with this vision, in addition to putting an end to housing evictions, mass trials and debts. priceless through a new Social Collection PolicyInfonavit’s credit offer was expanded to meet people’s real needs.
Furthermore, in terms of credit, Infonavit not only created new financing products – such as BUILDaimed at those who self-produce their housing, but also implemented other schemes such as Let’s join credits.
He also said that the New Credit Scheme in Pesosreducing interest rates to a historically low level. Currently, these rates range from 3.76 to 10.45 percent, depending on the salary level of the borrowers, where those who earn the least receive the lowest interest rate. Today, the average rate is 8.3 percent, lower than that of financial institutions.
Through Shared Responsibility the most successful restructuring program in the history of Infonavit the unpayable debts of more than 1.3 million people were ended by converting their credit Times Minimum Wage (VSM) to pesos. In total, accumulated discounts of more than 90 billion pesos were generated.
Taking into account that the economic resources managed by the Institute are the property of the entitled persons, 154 thousand 669 million pesos were returned to one million 409 thousand 350 pensioners.
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