The recent reform to the Law of the National Workers' Housing Fund Institute (INFONAVIT) has removed previously necessary requirements to access credits, which now allows self-employed workers to obtain financing using their savings in the Housing Subaccount. This relaxation makes it easier for more workers to combine credits and access them quickly and easily, without depending on the intervention of an employer.
The changes also include the elimination of age restrictions for requesting credits and the possibility of using them for various purposes, such as purchasing land, self-construction, paying off mortgage liabilities, or renovating homes. These adjustments in the law aim to modernize access to housing and improve the living conditions of workers in Mexico, although they have generated controversies and criticisms.
The reform also allows workers to obtain direct credits without financial intermediaries and combine INFONAVIT credits with other bank loans or loans from close individuals. The simplification of procedures and requirements for financing approval, as well as the portability and continuity of the credit, are highlighted aspects of the introduced changes. Measures have been implemented to prevent fraud, improve transparency in credit allocation, and protect workers from abuses.
Despite the criticisms, the ruling bloc has achieved the approval of the reform, arguing that it will guarantee access to housing for vulnerable sectors and address the housing deficit in the country. Alongside the construction of 500,000 homes through INFONAVIT and another 500,000 through the National Housing Commission, there is a goal to provide decent housing for low-income sectors.
The intention of the reform is to allow INFONAVIT to participate directly in the construction of homes and use workers' savings for this purpose, which has raised concerns about the management of these resources. Nevertheless, the relaxation of access criteria to financing and the expansion of benefits aim to improve the living conditions of workers in Mexico, granting greater autonomy in the use of credits and facilitating their acquisition.
