The Government Employees Social Security Institute (ISSSTE) and its housing fund (FOVISSSTE) will be able to offer a second housing credit to its members, as part of an initiative by the federal government to guarantee dignified housing for all Mexicans.
The decree was published in the Diario Oficial de la Federación and consists of changes to articles 167 and 179 of the ISSSTE law and states that “these loans may be offered up to two times, if the first loan has been completely paid back” and “under criteria of equity and priority to workers who have not taken out a housing loan.”
The changes to article 179 state that in order to obtain a second credit, “workers need to fulfil the same requirements” as for the first, including “having at least 18 months of deposits in the housing fund and being able to demonstrate that the first loan has been completely liquidated, and that it was paid off in a regular manner.”
The general director of the ISSSTE, José Reyes Baeza Terrazas, explained that the measure was taken to respond to the demand long made by many workers for better housing. He emphasized that the FOVISSSTE will manage the loans and set the conditions for access. Those conditions will be released soon so that eligible workers and their families will be able to take full advantage of the loans.
The House of Deputies approved the measure in February 2016.
Esteban Batory Sandorf
