For many Russians, obtaining a mortgage is the only opportunity to buy personal residential property. At the same time, taking into account the long-term nature of such a loan (more than ten years), a number of possible individual unforeseen circumstances, as well as the economic situation in the country, for some, making monthly payments to the bank becomes too heavy a financial burden. This, in turn, leads to the emergence of debt, and for it, according to the terms of the contract, penalties and fines are charged.
In order not to lose their housing, which the bank holds as collateral and has the right to take away the money already paid on the mortgage for non-payment of the loan and not to spoil their credit history, citizens are forced
consider all possible exit options. For this reason, the state developed and implemented a program to help borrowers who found themselves in a difficult situation through no fault of their own. This assistance is presented in the form of restructuring the mortgage agreement, that is, changing its terms, and partial payment of the debt from the state budget. Responsibility for the project lies with the Housing Mortgage Lending Agency (AHML), whose partner is Sberbank.
Reduce monthly payment
One option for government assistance is to reduce the regular monthly contribution. However, it is worth understanding that this is done due to:
- Increasing the mortgage payment period, that is, the contract will be extended for several years;
- Reducing the loan interest rate. Thus, the amount of the monthly payment and the overpayment on the mortgage as a whole are reduced;
- Changes in the currency in which the loan was taken - the possibility of converting a foreign currency loan into a ruble loan, provided that due to the increase in exchange rates, the monthly payment has increased by thirty percent compared to what it was at the conclusion of the agreement.
Since it is not always possible to be sure of the stability of the situation in the future, you can also arrange a deferment, that is, a credit holiday.
If Sberbank approves such a request, the borrower is exempt from making monthly payments for a certain time, but not completely. In any case, he will be obliged to contribute half of the sum. Nevertheless, this is a good opportunity to at least improve your financial situation and regain your solvency. In this case, the mortgage term is not extended, and the amount underpaid during the holiday period is scattered into monthly payments thereafter. Dear readers! Our articles talk about typical ways to resolve legal issues, but each case is unique. If you want to find out how to solve your specific problem, please contact the online consultant form on the right →
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What Sberbank offers
The AHML mortgage assistance program is beneficial to Sberbank as well as to borrowers. The bank is interested in timely and full payment of debt, regardless of whether it is the personal funds of an individual or money from the state.
Restructuring is carried out at the initiative of the borrower, after submitting the appropriate application, documents and approval of such a request.
Conditions for participation:
- The financial situation of the borrower over the past three months has worsened, through no fault of his own, by thirty percent, compared to what he had when receiving the loan;
- An increase in the monthly payment in rubles by more than thirty percent due to an increase in exchange rates, if the loan is in foreign currency;
- Clean credit history.
At the same time, parents, adoptive parents and official guardians of children (under eighteen years of age), large families, persons with limited needs and their parents supporting disabled dependents, as well as military veterans have the right to apply for assistance from the state.
Sberbank offers one of the options as part of loan restructuring:
- Deferment for a period of two years, in which the borrower is obliged to pay only interest every month;
- Extension of the term of the loan agreement for a period from three to ten years;
- Individual payment schedules (if the borrower, for example, has seasonal work);
- Quarterly payment of interest;
- Credit holidays with changes in interest rates.
Governmental support
Borrowers who, through no fault of their own, find themselves in a difficult financial situation can expect support from the state.
It was for these purposes that AHML was created. Mortgage repayment and the restructuring itself work within the framework of a social program based on the government decree of the Russian Federation in 2020. Mortgage programs today are varied, but the state has focused specifically on supporting individuals who have lost their solvency by thirty percent or more. Speaking of specific figures, the state can repay part of the mortgage in the amount of six hundred thousand rubles at a time. Thus, citizens have the opportunity to either ease their financial burdens a little, or pay off the balance of their debt and close their mortgage with these funds.
Since Sberbank participates in this state program, in any of its branches you can ask what options are available for a particular borrower, and what conditions are imposed on him. All of them need to be carefully analyzed and compared in order to choose the one that is most beneficial in your case. In addition, it is Sberbank that you will have to contact in order to receive the promised assistance from the state to repay your housing loan. Clients of other banks will need to contact their banking institution.
What is mortgage restructuring and how to do it with the help of the state in 2020
Mortgage restructuring in 2020 showed that it is more profitable for the bank to find a solution acceptable to both parties than to bring the matter to court. So the more positive your reputation as a borrower, the greater the chances of resolving the problem quickly and without unnecessary hassle. In addition, if you have a good credit history, you can refinance your mortgage, both in your own and in a third-party bank.
- The first thing you need to do is contact the bank and find out which branch you can go to for advice on this program.
- During the consultation, clarify all additional documents that are needed specifically in your case.
- We order an extract from the Unified State Register of Mortgaged Real Estate from the district multifunctional center (MFC). There we also order an extract from the Unified State Register of Generalized Rights. The second certificate stating that you and your family members have no other housing. Shares in other real estate are allowed, but in total no more than 50%. Production time 7 days.
- We fill out an application for restructuring of mortgage debt. You can fill it out at a bank branch. We provide a complete package of documents to the manager.
- We are waiting for AHML's decision up to 30 days (actually 10 working days).
- You will be notified of the result by call. Then they will invite you to the bank to restructure your loan and sign new loan documentation.
- Within a month, the mortgage will arrive from the archives to the bank. Next, you will need to go to the justice department with a complete package of mortgage documents and register changes in the mortgage.
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Real estate requirements
Officially, the restructuring program for paying off mortgage debt is suspended, but it has been extended until the end of May 2017.
This is due to the fact that the financial resources allocated for the project were fully used over two years, that is, the project was completed ahead of schedule. Whether it will be extended in the future is unknown, but Russian citizens are already actively creating petitions demanding not to stop the program. However, there is still time to get help. At the same time, it is important to know that in addition to the requirements for the borrowers themselves and their financial condition, the conditions are also set for housing purchased on credit. So, for example, the state will not help those who bought an apartment with an area larger than:
- 45 sq. m. for one-room living space;
- 65 sq. m. for a two-room apartment;
- 85 sq. m. for three-room housing.
These requirements do not apply only to large families. It is also important to take into account that you can ask for restructuring only if less than one year has passed from the conclusion of the contract to the submission of the application with documents for state assistance. And one more nuance - participation in the program is completely free. No commissions, duties or taxes.
New program to help mortgage borrowers - new conditions
- JSC "AHML"
- PJSC Sberbank
- Alfa Bank
- VTB Bank (PJSC)
- Bank GPB (JSC)
- VTB 24 (PJSC)
- PJSC Bank "FC Otkritie"
- JSC Rosselkhozbank
- JSC UniCredit Bank
- OAO "MOSCOW CREDIT BANK"
- PJSC ROSBANK
- JSC Raiffeisenbank
- PJSC "BINBANK"
- PJSC "Bank" Saint-Petersburg"
- JSCB "Absolut Bank" (PJSC)
- LLC "AVENIR"
- JSC Avtogradbank
- JSC "AZHIK Voronezh Region"
- JSC "AHML of the Vologda Region"
- JSC "AHML KO"
- JSC "AHML in the Tyumen Region"
- JSC "AHML of the Tambov Region"
- PJSC "AK BARS" BANK
- PJSC "AKIBANK"
- JSCB "Almazergienbank" JSC
- JSCB "AltaiBusiness-Bank" (OJSC)
- PJSC "BANK SGB"
- BASHKOMSNABBANK (PJSC)
- JSC BINBANK Murmansk
- PJSC "BINBANK Tver"
- "BOOM-BANK" LLC
- PJSC "BystroBank"
- OJSC "VAIZhK"
- Bank "RRB" (JSC)
- JSC GLOBEXBANK
- PJSC "Far Eastern Bank"
- JSC "DVITs"
- AB "Devon-Credit" (PJSC)
- JSC CB DeltaCredit
- JSC "Bank ZhilFinance"
- PJSC "Zapsibkombank"
- PJSC Bank ZENIT
- JSCB "Izhkombank" (PJSC)
- JSCB "Investtorgbank" (PJSC)
- JSC "Mortgage Agency of Ugra"
- LLC "Kama Commercial Bank"
- OJSC "Krayinvestbank"
- JSC "Credit Europe Bank"
- LLC "Krona-Bank"
- Bank "KUB" (JSC)
- CB "Kuban Credit" LLC
- JSB Kuznetskbusinessbank (JSC)
- PJSC "Kurskprombank"
- Bank "Levoberezhny" (PJSC)
- CB "LOKO-Bank" (JSC)
- PJSC "METCOMBANK"
- CB "Moskommertsbank" (JSC)
- PJSC MOSOBLBANK
- PJSC "MTS-Bank"
- JSC "NADEZHNY DOM"
- JSC "NOAIK"
- PJSC "NOKSSBANK"
- OJSC "OblAIZhK"
- JSC "OTP Bank"
- PJSC "Plus Bank"
- PJSC SKB Primorye "Primsotsbank"
- JSCB "Proinvestbank" (PJSC)
- Regional Fund for the Development of Housing Construction and Mortgage Lending
- JSCB "RosEvroBank" (JSC)
- JSCB "Russian Capital" (PJSC)
- LLC KB "RostFinance"
- PJSC JSCB "Svyaz-Bank"
- JSC CB "Northern Credit"
- JSC "SMP Bank"
- CJSC "SNGB"
- Bank "Snezhinsky" JSC
- JSC Sobinbank
- PJSC "Sovcombank"
- JSC "SPb TsDZh"
- OJSC AIKB Tatfondbank
- "Timer Bank" (PJSC)
- "TKB" (CJSC)
- PJSC "Tomskpromstroybank"
- JSC "TEMBR-BANK"
- OJSC "UGAIK"
- PJSC JSCB "Ural FD"
- PJSC "BANK URALSIB"
- NGO "RHD Foundation"
- JSCB FORA-BANK (JSC)
- JSCB Forshtadt (JSC)
- OJSC CB "Center-invest"
- OJSC "CHELINDBANK"
- OJSC "CHELYABINVESTBANK"
- JSCB "CHUVASHKREDITPROMBANK" PJSC
- Moscow Stars B.V.
- JSC "Investment Company RESO"
- JSC AB RUSSIA
- JSC "RESO Financial Markets"
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In addition, by September 1, 2020, a special commission will be created that will deal with exceptional cases
restructuring, for example, if the borrower does not meet any of the program conditions (no more than two points of conditions), but at the same time clearly needs assistance.
The commission's consideration of such cases will be carried out on the basis of an application from the creditor bank
(i.e., the decision to admit the borrower to the restructuring program or not, first of all, is made by the bank).
What do we have to do
The registration procedure consists of four successive stages. The borrower needs:
- Go to Sberbank, where the mortgage was issued. Here it is necessary to clarify under what conditions the restructuring is provided and whether this borrower meets the criteria. If yes, a corresponding statement is written and immediately registered by the responsible employee;
- Prepare and submit to the lender all requested documents for restructuring a mortgage loan and for receiving government assistance through AHML;
- Conclude a mortgage restructuring agreement with a credit institution. Before signing, you should carefully study it and make sure that the new conditions are more beneficial in this situation;
- Make payments on time, in accordance with the terms of the new agreement, otherwise Sberbank has the right to apply fines and sanctions, and repeated restructuring of one loan is rarely allowed. The exception is the government support program.
You can clarify all the details by calling the housing mortgage lending agency’s hotline free of charge, or by filling out the feedback form on the agency’s official website. In most cases, lenders accommodate borrowers who find themselves in difficult financial situations. It is more profitable to renegotiate the terms of the loan agreement than to pay legal costs. Having secured the support of the state, it is much easier to achieve restructuring, but even without it it is possible to significantly reduce the debt burden, albeit temporarily.
Mortgage loan restructuring
During the assessment of a property, agency experts make an expert opinion on the feasibility of selling the property. If the value of the property turns out to be more than the amount owed to the bank, they will help you restructure the mortgage loan. Agency experts search for a buyer for the property, using the agency’s advertising capabilities.
- a copy of the work record book certified by the employer or its original with a record of dismissal (if any);
- a certificate from the last place of work about the amount of income for the last completed and current year;
- other documents indicating the availability of additional income of the borrower (if any);
- application form for mortgage restructuring;
- passport;
- documents on existing and already fulfilled debt obligations;
- loan agreement between the borrower and the mortgage lender;
- surety and insurance agreements, mortgage agreements;
- a copy of the mortgage note certified by the mortgage lender.
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