Thursday, July 30, 2020

Infonavit affiliates see less difficulties to pay loans despite health emergency

Workers’ perception of a negative scenario to pay their mortgage loans decreased from 50 to 30% from April to May, a study by the Institute revealed. The percentage of borrowers from the National Workers’ Housing Fund Institute (“, Infonavit,”) who expect to have difficulties paying their mortgage loans fell from 50 to 30 percent from April to May, reveals a survey by the Institute.

According to the data from a universe of 2,355 micro interviews from 36 cities, this perception is optimistic about the economic future of the borrowers, who believe that there will be a positive scenario for both the national and family economies in the coming months, despite the emergency of COVID-19. “Although from March to May the percentage of borrowers who reported difficulties in paying increased from 7 to 20 percent, the percentage of those who expect to have difficulties in paying in the coming months decreased from 50 to 30 percent from April to May ”, They point out.

In this logic, added the “, Infonavit,” in May 17 percent of the consulted borrowers who lost their jobs during the contingency said they saw the need to reduce or postpone the payment of their mortgage credit. In contrast, items such as personal care, food, recreation, transportation, and education, between 60 and 95 percent of the borrowers claim to have reduced or postponed expenses.

On the other hand, the survey also revealed that in May 29 percent of the surveyed workers said that they would surely or probably request a loan from Infonavit despite the adverse scenario of the economy. 62 percent of those interviewed expressed their fear of a possible economic crisis stemming from the new coronavirus pandemic, which could mainly hit family income and increase unemployment figures.

Source:El Financiero

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