Every seventh mortgage in Russia was overdue

The Russians, once considered reliable mortgage lenders, such no longer. During the crisis, one in seven issued in 2006-2007. credit had to restructure, now expired, one in ten in 2009-2010. to restructure mortgage loans needed more 63 400 borrowers. So many requests for advice received by the Agency for Restructuring of residential mortgage loans (ARIZHK), said agency CEO Andrew languages. 45 000 borrowers restructured loans. Almost one fifth (about 8500) made it through the agency, and the rest agreed with creditor banks. Language pointed out that most of the complaints came from the restructuring of the borrowers who took loans in 2006-2007. Statistics on the number of mortgage loans of the Central Bank has since 2008 according to Rosreestra, 2006-2007. have been issued about 328,000 mortgages. Thus, it appears that through the restructuring process was one in seven loans. True, some banks issue mortgages without issuing bonds. Therefore, this figure could be lower, said the head of the analytical center AHML Anna Lyubimtseva. But it also points out that, according to the HMLA the end of 2010 was one in ten overdue mortgage. Prior to the crisis situation with payments on the mortgage was completely different. Delay on it did not exceed 1%. The increase in delinquency on the mortgage crisis has affected a number of reasons, said a member of the Board of Raiffeisenbank Andrey Stepanenko. A significant portion of the loans was involved in a currency other businesses to obtain loans secured by apartment, part of the funds are raised in floating rate tied to money market rates. In a crisis the ruble fell by 30%, business rose, while interest rates have jumped three times, reminds Stepanenko. Why so many credits needed for restructuring. After the crisis, monetary and non-mortgage loans secured by real estate issued by a fraction, said Stepanenko. Delay is still high, because the crisis income people grow slowly, and the accumulation of spent explains Lyubimtseva. In addition, if the loan was delinquent at least once, go back to the schedule difficult. And some borrowers credit has not been restructured, so that these people serve the debt, as they allow the possibility, says Languages. He believes successful outcome of the restructuring program. By the end of 2010 more than half of borrowers who have gone through ARIZHK ceased to need the support of the agency, restoring their ability to pay, and 266 (3%) prepaid loans. "We expected that there will be more re-defaults", - speaks the language. Thanks to a properly chosen parameters - the rate on the new loan, the size of payments in the first few months - 87% of restructured loans are serviced without any delay. These results are not at all: there are a number of banks, which because of illiteracy constructed repayment schedule to borrowers load was too high - in the end, almost half of restructured loans re-entered the delay, admits languages. ARIZHK was forced to spend over 3000 for the repeated restructuring of the borrowers of such banks.