Ignorance or Lack of Resources Hinders Infonavit Home Loans
- TOLUCA, Mexico State – While 319,788 mortgages have been paid off through Infonavit in the State of Mexico, a critically important number of homeowners, specifically 289,673, still lack...
- The National Housing Fund Institute for Workers (Infonavit) reports that many families, after fulfilling their mortgage obligations, do not finalize the process by registering the release of their...
- Tecámac has the highest concentration of paid-off mortgages without corresponding deeds, with 32,265 out of 34,628 liquidated homes lacking the proper documentation.
Thousands of Homes in Mexico State Lack Proper Titles Despite Mortgage Liquidation
TOLUCA, Mexico State – While 319,788 mortgages have been paid off through Infonavit in the State of Mexico, a critically important number of homeowners, specifically 289,673, still lack the necessary property deeds. This is often due to a failure to complete the required procedures, stemming from either a lack of awareness or insufficient financial resources.
Lack of Deed Completion Hinders Homeownership
The National Housing Fund Institute for Workers (Infonavit) reports that many families, after fulfilling their mortgage obligations, do not finalize the process by registering the release of their mortgage with the public registry. This oversight can be attributed to a lack of information or the inability to afford the associated fees, which can amount to approximately 15,000 pesos.
Municipalities with Highest Number of Unreleased Mortgages
Tecámac has the highest concentration of paid-off mortgages without corresponding deeds, with 32,265 out of 34,628 liquidated homes lacking the proper documentation. Cuautitlán Izcalli follows with 28,681 houses without a released mortgage out of 31,666 liquidated houses. Ixtapaluca reports 27,745 paid mortgages, with 23,724 still lacking the necessary release.
- Ecatepec: 22,640 houses without documents
- coacalco de Berriozábal: 16,744 houses without documents
- Toluca: 17,905 houses without documents
An additional 163,614 paid-off houses are categorized as “others,” with 111,961 of these lacking proper documentation.
infonavit Initiatives to Address the Issue
Infonavit is implementing three key actions to streamline the process. These include enabling the State Registry Function institute to register private titles for canceling autonomous mortgages, waiving fees or offering better terms for infonavit procedures, and fostering closer collaboration with the Institute of the Edomex registration function, municipal cadastres, and the General Archive of Notaries to establish a comprehensive history.
Importance of Releasing Mortgage Liens
Releasing the lien on property deeds is crucial for demonstrating ownership. Homeowners should request a mortgage release instruction letter from a notary or the public registry of property, depending on state legislation.
For credits granted between 1972 and 2007, the deeds are under Infonavit’s protection. The procedure can be initiated through the “My Infonavit” account,Infonatel,or CESI,where a folio number is assigned for tracking purposes.
However, for credits granted sence 2008, Infonavit no longer holds the deeds. These properties have a lien, indicating that the house serves as collateral for the mortgage loan.
Thousands of Homes in Mexico State Lack Proper Titles: Your Questions Answered
Why are so many homeowners in Mexico State without proper property titles,even after paying off their mortgages?
The primary reason is the failure to complete the necessary procedures to release the mortgage lien with the public registry. According to the national Housing Fund Institute for Workers (infonavit), this can be due to a lack of awareness about the required steps or insufficient financial resources to cover the associated fees.
How many homeowners are affected by this issue?
Out of 319,788 mortgages paid off through Infonavit in the State of Mexico, a critically important 289,673 homeowners still lack the necessary property deeds.
What is the importance of releasing a mortgage lien?
Releasing the lien on property deeds is critical for demonstrating ownership of a property. Until the lien is released, even though the mortgage is paid, your ownership isn’t fully and legally recognized.
What are the common reasons for not completing the mortgage release process?
Lack of Details: Many homeowners may be unaware of the steps required to finalize the process after paying off their mortgage.
Insufficient Financial Resources: The fees associated with registering the release of the mortgage can be a barrier, potentially costing around 15,000 pesos.
Which municipalities in Mexico State have the highest number of homes without released mortgages?
Several municipalities have a high concentration of homes were the mortgage hasn’t been released, even after being paid off.Here’s a breakdown:
| Municipality | Paid-Off Mortgages Without Deeds |
| ——————— | ——————————– |
| Tecámac | 32,265 |
| Cuautitlán Izcalli | 28,681 |
| Ixtapaluca | 23,724 |
| Ecatepec | 22,640 |
| Coacalco de Berriozábal | 16,744 |
| Toluca | 17,905 |
What is Infonavit doing to address this issue?
Infonavit is taking several steps to streamline the process and help homeowners:
Collaboration with State Registry: Enabling the state Registry Function institute to register private titles for canceling autonomous mortgages.
Fee Waivers and Better Terms: Waiving fees or offering better terms for Infonavit procedures.
Collaboration with Municipalities and Notaries: Fostering closer collaboration with the Institute of the Edomex registration function,municipal cadastres,and the General Archive of Notaries to establish a complete history.
What should homeowners do to release their mortgage?
Homeowners should request a mortgage release instruction letter from a notary or the public registry of property. The specific procedure depends on state legislation.You should consult with your local authorities to confirm the exact process for your property.
How do I initiate the mortgage release process if my credit was granted before or after 2008?
Credits Granted between 1972 and 2007: The deeds are under Infonavit’s protection. The procedure can be initiated through the “My Infonavit” account, Infonatel, or CESI, where a folio number is assigned for tracking purposes.
* Credits Granted Since 2008: Infonavit no longer holds the deeds. These properties have a lien, indicating that the house serves as collateral for the mortgage loan, and a different process applies.