Mexico City, Mexico — President Claudia Sheinbaum has forgiven five million home loans the government has found to be unpayable. The mortgages were forgiven by the government this week and deeds sent to the homeowners.
Sheinbaum handed out deeds and debt forgiveness certificates in the state of Morelos Saturday as part of the restructuring of five million unpayable loans.
During the ceremony, she highlighted the recent approval of Plan B for the Electoral Reform, which reaffirms the principles of the Fourth Transformation where there cannot be a rich government with a poor people.
On Saturday, she led the delivery of 828 certificates of loan settlements from the Housing Fund of the Institute of Security and Social Services of State Workers (Fovissste) and 250 deeds from the National Institute of Sustainable Land (Insus).
The settlements are part of the restructuring, forgiveness and removal of the Housing for Well-being program to five million unpayable loans that were granted in the neoliberal era.
“Today we are celebrating a substantial change, a reality: they no longer owe anything, they no longer owe anything. That anguish has been lifted from them. Why? Because it is only right that their debts be forgiven because they had already paid enough.
“This is the case for five million families in our country and this is how we will continue to govern, regardless of who it may offend. We will continue to govern for the people of Mexico because the people of Mexico elected us,” she stated.
Sheinbaum recalled that during the neoliberal governments, Fovissste and the National Workers’ Housing Fund Institute (Infonavit) granted unpayable housing loans and the only beneficiaries were the owners of the construction companies that built houses that ended up uninhabited.
She reported that at the beginning of her administration, the Ministry of Agrarian, Territorial and Urban Development (Sedatu), Infonavit, the Institute for Social Security and Services for State Workers (ISSSTE) and Insus began working on a plan to incorporate debt forgiveness, loan reductions and restructuring into the Housing for Well-being program, aiming to improve the living conditions of homeowners.
She emphasized that one of the principles of the Fourth Transformation is that there cannot be a rich government with an impoverished population.
