The RF Government have adopted the Program of support of mortgage loan borrowers who got in a hard financial situation
As the “Construction.RU” is told in the press-service of the Ministry of Housing, Construction and Utilities, the appropriate Resolution ?373 has been published on the web-site of the RF Government. According to it the borrowers having ruble credit facilities may get help if their income has decreased by 30%. Those having currency credits will get it if their pay backs have grown more than by 30% due to the ruble course fall.
With that, the borrower’s total income cannot be over 1,5 minimum subsistence level (for every member of the family) after paying back a monthly in-payment. And his mortgage loan indebtedness should be in the range of 30-120 days.
Restructuring mechanisms also suppose a moratorium on principal redemption for the term of support within 6-12 months and rate fixing at 12% to the end of loan pay-back (for ruble credit facilities). Currency mortgage loan will be converted into rubles by the bank on the date of restructuring. Credit restructuring will be done at the rate not higher than the current credit facility rate. AHML or created by it non-commercial organization will pay back shortfall in income to the bank or a financial backer (vendor) restructuring the credit facility, but not more than 50% during the term of support (within 6-12 months).
The ceiling amount of short received income or losses part for a credit (loan) is maximum 200 thousand rubles. To implement the program the federal budget will grant 4,5 bln rubles to AHML equity.
Credit restructuring is not charged.
As a reminder, there are 3,5 mln mortgage loan borrowers. The number of “problem” ones – about 80 thousand. Majority of them have credit facilities in rubles and only 5 thousand – in foreign currency.