Infonavit Spousal Credit: What happens to the house if there is a divorce?

Post author:California18
Post published:January 17, 2023
Post category:News
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One of the dreams of newly married couples is to buy their own house to be sure of having a patrimony for the family, by listing on the Institute of the National Housing Fund for Workers (Infonavit) will be able to consider that objective and collaborate to obtain a better mortgage for a bigger or better located house.

To do this, they have a financing option from the agency called Infonavit Spousal Credit and it can be the key piece for the couple to get down to work with their shared project. In any case, it is a debt that will take time, but do you know what happens to the loan in the event that the borrowers opt for a divorce?

Remember that it is a financial commitment acquired jointly, so the dissolution of a marriage does not mean that the housing loan is cancelled. For this you have to understand how the scheme of this mortgage works.

Infonavit authorizes mortgage loans to workers who meet the requirements to be eligible, such as meeting a minimum score to process their credit application. Now, the applicant’s spouse can share their financing to contribute an additional 75% to the original amount of the mortgage if the conditions are met.

The other person must have a current employment relationship with which he has had interrupted contributions to the IMSS for at least two years before completing the process to be accredited with the Infonavit Spousal Credit scheme.

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In these terms, if the parties agree to a divorce, the property will belong to both parties, in the case of joint ownership. This is how it appears in the contract and that obliges the two people to continue paying the mortgage with the monthly payments as established until the debt is settled on the set date.

However, if one of the two parties decides not to continue paying the credit, the alternative they have is to sell their part of the property to the ex-partner if they are in a financial position to fully assume the financial commitment in the remainder of the term.