“Mortgage lending represents the most valuable asset that families have, their home,” Finance Minister Ignacio Briones said after highlighting the house of deputies’ approval of the bill that allows the postponement of mortgage fees, through a FOGAPE guarantee. This project is aimed at those who have been affected by their income during the crisis caused by the coronavirus pandemic.” Mortgage loan fees account for a significant percentage of monthly spending. This initiative aims to provide you with very significant financial support to lift the family economy in a certain way. This is part of the commitments we have made as a Government, as Ministry of Finance, to make families most affected by the health crisis and that is why we appreciate the progress that this Bill has made,” said Regional Ministerial Finance Adviser in the Coquimbo Region, Karen Leichtle.Leichtle detailed that the bill will allow a Fogape state guarantee to facilitate the postponement for up to six months on the main dwelling of those families they would have seen their income fall, that they are not in arrears of more than 30 days, and that the commercial appraisal of the property is not more than 10,000 UF. Individuals who wish to defer their mortgage credit must apply for a “deferment credit” from their creditor and thus evaluate that application. It will be contracted by public deed and may be held through physical or digital means. It will be tax-free and have a maximum rate equivalent to the mortgage credit rate whose fees are deferred and will have a state guarantee granted by FOGAPE, with a maximum duration of five years.” The new deferment credit may be paid, either by distributing its dues within the remaining term of the mortgage credit, or a shorter term; or after mortgage lending, considering a grace period, in case there are other loans, which have been previously contracted to pay mortgage dues,” explained Treasury Adviser Karen Leichtle.The new instrument may only be held within the first 4 months from the first award of the first tender for FOGAPE guarantees. Requirements for access:1. Have experienced a decrease of at least 25% of monthly income;2. That the mortgage credit to be deferred has been contracted to acquire the debtor’s main home;3. That the aforementioned house has a commercial appraisal, which, at the time of applying for the original mortgage credit, has not exceeded 10,000 UF;4. Mortgage credit requested to be deferred must not be more than 30 days in arrears.