Caixa announces extension of debts from 90 to 180 days
As yet another measure to contain the effects of the coronavirus pandemic on the Brazilian economy, Caixa announced the extension of debts
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Therefore, the bank announced that it will pause payments on property financing installments, as well as on real estate financing contracts.
90-day extension – Property financing
Anyone who has a property loan with Caixa Econômica Federal can request an emergency extension for 90 days, or three months.
According to the information provided by the bank, this request cannot be made by anyone who is two installments late or uses the FGTS to pay part of the installment.
Regarding the request, it can be made by calling 0800 726 8068, just provide your CPF.
Additionally, the order can also be made via the app:
- Download the “Habitação Caixa” app, available for iOS and Android;
- Click on “request pause”;
- If you're already registered, enter your CPF and password. If you're not already registered, simply click "Register" to register.
- Enter your cell phone number and enter the code sent via SMS;
- Finally, click on “Request pause” and a protocol number will be generated.
Additionally, Caixa will send an SMS with further information regarding your request.
180-day extension – Real estate financing
Financing contracts that are closed from Monday (April 13) onwards will have a grace period of 180 days for payment, that is, six months.
Therefore, during this time, individuals will not need to make installment payments.
For real estate contracts previously signed by individuals, the term will remain 90 days, or three months. However, this term may be extended if the situation worsens.
“We have a commitment that, if there is a more severe crisis, we will consider extending the payment suspension period to four months,” declared Caixa president Pedro Guimarães.
To be entitled to 180 days, the customer must contact the bank and request the suspension.
In general, it is recommended that you use digital channels for this request, such as the “Habitação Caixa” app.
Additionally, the telephone numbers 0800 726 0505 and 3004 1105 are also available for this request. To renegotiate contracts, customers should contact 0800 726 8068.
Measures announced for Individuals
- Customers who are up to date with their payments or who are up to two installments overdue may choose to pay the financing installment in part within 90 days;
- Customers who have financing from Caixa (individual construction) will be allowed to release up to two installments early, without an inspection;
- Renegotiation of contracts with customers in arrears of between 61 and 180 days, allowing for a pause or partial payment of installments;
- 90-day pause on housing financing, for customers in good standing or with up to two installments in arrears, including contracts under construction.
Measures for companies
- Advance payment of up to 20% of Production Financing resources for projects to begin;
- Advance release of funds corresponding to 3 months, limited to 10% of the financed cost, for works in progress and without delays in the schedule;
- Release of financing resources for production not used by the company in previous months, limited to 10% of the financed cost;
- Pause in production financing for 90 days, for customers in good standing or with up to two installments in arrears;
- Inclusion or extension of a grace period of up to 180 days for projects with completed works and in the amortization phase;
- Possibility of extending the start of works for up to 180 days;
- Allow for the reformulation of the work schedule, in cases of contingencies in execution due to issues arising from the pandemic.
