2023-10-22 20:15:32
The central government promotes help to pay the mortgage to citizens who need it. These measures are being carried out, through the implementation of a Code of Good Practices for the viable restructuring of debts with mortgage guarantees on housing. To this initiative, the financial entities that grant loans. It is a way to counteract the difficult economic and social situation of Spanish families.
Mortgage payment aid is divided into three levels of action
The Code of Good Practices establishes effective negotiation and communication processes between lenders and borrowers. And in general, the actions are aimed at promoting a mortgage debt restructuring contracted by the citizen, in order to avoid eviction processes. The regulations, included in the Royal Decree Law 6/2012includes three levels of action, tohelp debtors without resources pay the mortgage:
Firstly, the mortgage debt is restructured, applying grace credits in the capital amortization and a reduction in the interest rate for 5 years, as well as extending the amortization period. If the above is not enough, the bank can offer the debtor a write-off on all of his debt. If neither of the above two works, financial institutions must “accept dation in payment as a definitive means of debt relief.”
If the “Settlement“, that is, the last resort to satisfy the mortgage debt, “families will be able to remain in their home for a period of two years, satisfying an acceptable income.”
These are the requirements that the debtor must meet
As indicated by the Ministry website of Economic Affairs and Digital Transformation, these are the Requirements that a mortgage debtor must meetto benefit from the action phases of these mortgage payment aid, contemplated in the Code of Good Practices of the financial sector:
Prove that you are included in the exclusion threshold: The total income of the family unit cannot exceed 3 times the IPREM (4 times if there is a member with a disability greater than 33%). That in the previous 4 years, at the time of the application, the family has suffered a significant alteration in its economic circumstances. The mortgage payment must be greater than 50% of the net income received by the family unit. Lacking other assets or property rights with which to pay the debt. The credit must fall on the only home owned by the debtor or debtors.
To formalize this aid, you must contact the bank with which you have signed the mortgage, so that the procedure can be launched. Do not forget, that in our information website of the autonomous community of Andalusiawe make available to users, news related to other benefits.
#intended #debtors #resources