“The monthly payments of the financing denominated in Times Minimum Wage (VSM) will be adjusted according to the increase of 3.15% of the UMA (unit of measurement and update)” and not 15% as the minimum wage, reported the Institute of the National Fund of housing for Workers in a statement.
Since 2016, the institute has adjusted the monthly payment of borrowers and the balance of said financings according to the lower of the increases between the minimum wage and the UMA, highlighted Infonavit.
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The institute also reported that it works in a program in which whoever so wishes, can convert the credits into pesos into times minimum wages (VSM) so that the monthly payment stops having annual increases.
Currently, through the Shared Responsibility program, it is possible to carry out this procedure, but the credit must meet certain characteristics.