About mortgage holidays for existing loans

A draft law to allow mortgage holidays are not only new, but also existing contracts. In the near future it is planned to consider the document in first reading by the state Duma (according to MIA "Russia today").

We will remind that the bill on mortgage vacation enables mortgage borrowers who find themselves in difficult life situation, to a six-month grace period, during which it is possible to suspend the payment or decrease the payment amount. According to the document, banks will have to process the request to provide mortgage holidays for 5 days.

In the list of difficult situations were: loss of work, obtaining disability the first or second group, survivor benefits, temporary disability for a period of more than 2 months, lower family income more than 30%.

The same bill repeals the notary certification of mortgage contracts for housing purchased on the PO. According to the authors, this will allow to reduce terms of registration of the mortgage and reduce the cost of servicing such loans.

Source Domofond.ru