Sometimes a mortgage is the only key to your own home
As practice shows, the real help from the proposed programs is very low. Let's try to figure out who can get help from the state in the global crisis, and also how creditors plan to protect themselves from unscrupulous or insolvent borrowers.
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I want to say right away that no more than one fifth of citizens in need of support can count on real help. It is this part of the population that can restructure their loans. Borrowers seeking help from the state must prove that the housing purchased with a mortgage is their only one. This means that those who have invested in houses under construction will be excluded from the list of those in need of help. Borrowers who bought housing without mortgaging their apartments also cannot count on loan restructuring.
Another criterion by which a borrower in need of help will be determined is the period of arrears on payments, which is no more than ninety days.
And finally, it is worth mentioning the area of the apartment purchased with a mortgage. If one person lives in the apartment, its area should not exceed 45 square meters; for two people, the area should be no more than 60 square meters. If your family has more than three people, then each resident should have no more than 20 square meters of area. So, if the footage exceeds the above, it is unlikely to count on state help.
If you are on the list of those who the state should help, then you need to collect a package of documents and contact your bank. In case of a positive decision on your issue, the bank issues an additional loan for a year, the amount of which will equal the amount of mortgage payments for a year. The mortgage on the new loan will be bought out by the state agency. But here too a dual situation arises. Banks may try to extract maximum benefit when they "sell" not-so-good loans to the state. In addition to the dishonesty of bankers, there is another "unpleasantness". The state plans to buy mortgages on outstanding loans from banks only if bankers issue new mortgage loans. And this sounds almost fantastic today. Excessively high loan rates, rising unemployment, the fall of the ruble – all this does little to encourage citizens to go to banks for loans.
It turns out to be a vicious circle, from which each borrower will have to escape on their own. Although the emergence of government programs to help debtors still gives hope that the state does not forget about its citizens.