Allows Renegotiate, Reschedule Or Partially Remitted Mortgage Loans And Related Balances With Loans For Housing That Will Indicate

Original Language Title: PERMITE RENEGOCIAR, REPROGRAMAR O CONDONAR PARCIALMENTE LOS CREDITOS HIPOTECARIOS Y SALDOS RELACIONADOS CON PRESTAMOS PARA VIVIENDA QUE SE INDICAN

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"Sole article.-authorize the President of the Republic so that, within a period of one year from the publication of this law, establish, through one or more decrees having the force of law issued through the Ministry of finance, rules needed for the renegotiation, rescheduling or partial debt forgiveness of mortgage loans and balances related to home loans that it is incumbent the Instituto de normalización Previsional" , and also loans that make up the portfolio of fiscal domain, administered by the Ministry of national property pursuant to the law Nº 19.229. It is also empowered to grant to debtors of the mentioned institutions a grant basis that associates the differential between the existing debts interest rate and the internal rate of return average for mortgage daily published by the stock exchange of Santiago. It will also establish the rules to grant benefits to borrowers of the loans referred to in subparagraph first of the article 1 of the law No. 19.199, considering criteria age, socio-economic status and payment behaviour.
The cancellation will be total with regard to debtors who are qualified as indigent and are to date in the payment of its dividends, and of those just mentioned the housing loans balances owed.
In use of the right referred to in the first subparagraph, the President of the Republic may provide greater benefits those who need one lower balance; They are to date in the payment of its dividends or be qualified as poor. You can also set combinations of the factors, whereas criteria age and other conditions, deadlines, modalities and procedures for the effects to comply with provisions of the mentioned paragraph.
Notarial procedures and inscriptions, re-enrolments, subinscripciones, cancellations, hoists and annotations to be carried out in the conservative real estate to formalize the performances and conventions referred to in this article shall be exempt from any duty and tax. "."