**Infonavit Freezes Payments for 2 Million Mortgages**
The General Director of the Institute of the National Housing Fund for Workers (Infonavit), Octavio Romero Oropeza, has announced a significant relief measure for approximately 2 million mortgage borrowers. Effective immediately, the balances and monthly payments of these loans, which were issued under the Veces Salarios Mínimos (VSM) scheme before 2013, will be frozen.
During a press briefing titled “La Mañanera del Pueblo,” Romero Oropeza revealed that Infonavit manages a portfolio of 6.2 million mortgage credits. Shockingly, 64% of these loans were structured in a way that, despite timely payments by borrowers, both the debt balance and the monthly payments increased each year. This has rendered the loans unmanageable and, in some cases, unpayable. Romero Oropeza labeled this system an “injustice” affecting 4 million families.
Looking deeper into the implications of these loans, even if a borrower had diligently settled their dues, by the end of the 30-year mortgage term, they could owe up to five times the original amount borrowed. Out of the 2 million beneficiaries of this freeze, 500,000 will receive automatic reductions in interest rates and monthly payments, while some may even get discounts on the remaining balance. The remaining 1.5 million borrowers are encouraged to contact Infonavit Service Centers to explore additional benefits.
Starting next week, borrowers can visit the Infonavit website to gather more details about their entitlements. Furthermore, Romero Oropeza hinted at future proposals to provide relief for another 2 million borrowers by the end of the year, aiming to assist all the affected families under the previous credit schemes.
**Secondary Article: Housing Market Outlook for Tijuana**
Alongside the developments at Infonavit, the housing market in Tijuana remains a topic of concern. According to the Association of Professional Builders in Tijuana (APIT), there are currently no signs that housing prices in the city will decrease by 2025. The city’s demand for homes continues to rise, spurred by population growth and increased interest from outside investors.
As the market tightens, potential homeowners and renters face steep competition and inflated property values. Efforts are being made to introduce new housing projects and expand infrastructure to meet the growing demand, but substantial changes may still take time. Despite the challenges, local authorities and developers are optimistic about future opportunities for the housing sector in Tijuana, emphasizing sustainable development and community-oriented growth strategies.
For those navigating Tijuana’s housing landscape, it is critical to stay informed about market trends and available support options, such as those recently announced by Infonavit, which could provide some financial respite amidst the prevailing economic pressures.
Stay updated with the latest developments by visiting relevant local news outlets and official channels.