Mexico City Congress Pushes for Loan Relief Campaigns for Housing Debtors

The Mexico City Congress has urged the Ministry of Housing and the Credit Recovery Trust (FIDERE) to launch public awareness campaigns detailing available payment facilities for housing loans granted by the Housing Institute (INVI). The initiative, proposed by Congressman Gerardo Villanueva Albarrán, aims to support debtors regularize their payments and alleviate the housing deficit in the capital.

Details of the Proposed Payment Facilities

Congressman Villanueva Albarrán outlined several existing mechanisms designed to ease the burden on borrowers:

• 20% Discount for Automatic Payments: Beneficiaries can receive a 20% discount by enrolling in automatic monthly payments.
• 15% Forgiveness with 85% Payment: Covering 85% of the credit payments results in a forgiveness of the remaining 15%, excluding a 2% operational expense fee.
• 25% Discount for Full Payment: A 25% discount on the outstanding balance is applied when the entire debt is paid in a single payment, along with the waiver of default interest.

Addressing the Housing Deficit

Villanueva Albarrán emphasized the require to address the long-standing housing deficit in Mexico City, citing studies from the National Autonomous University of Mexico (UNAM) that estimate a shortfall of over 700,000 housing units. He believes that facilitating loan repayment is a crucial step towards achieving housing justice and making housing accessible to more residents.

Constitutional Rights and Budgetary Considerations

The congressman underscored that the Political Constitution of Mexico City guarantees the right to decent housing for all citizens. He also called for strengthening the budget allocated to housing, directing more resources towards the construction of new social housing, particularly for lower-income communities.

Gerardo Villanueva Albarrán: A Profile

Gerardo Villanueva Albarrán currently serves as a Deputy for District 26 in the Mexico City Congress, representing the Progressive Parliamentary Association of Transformation (APPT). He can be reached at 5130 19 00 and 51 30 19 80, extension 2522, or via email at gerardo.villanueva@congresocdmx.gob.mx.

Villanueva Albarrán has a long history in Mexican politics, having previously served as a federal deputy for District 24 of the Federal District from 2012 to 2015, and for District 32 from 2021 to 2024. He also held a position as a local deputy in the Legislative Assembly of the Federal District from 2003 to 2006.

Prior to his legislative career, Villanueva Albarrán held administrative roles, including Director General of the Sports Institute of the Federal District from 2009 to 2011 and Subdirector of Social Management of the Federal District in 2001.