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Russian Ministry of Construction to support 35,000 families unable to pay mortgage

12:29 | 31.03.2015 | Economy

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Penza, 31 March 2015. PenzaNews. About 4.5 billion rubles will be allocated from the federal budget to support families troubled due to mortgages, stated Mikhail Men, Minister of Construction, Housing and Utilities, during the district meeting on construction development in Penza on Tuesday, March 31.

Russian Ministry of Construction to support 35,000 families unable to pay mortgage

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Mikhail Men said that the Russian government decided not to divide mortgagers by currency of the mortgage.

“The criteria will be identical for both categories. Right now we are working to develop these criteria,” the minister of construction said.

He announced that the state aid will be provided only for one year and will not exceed 40% of the total mortgage amount.

“During one year, we will be giving people an opportunity to restore their credit worthiness,” Mikhail Men noted.

He stressed that this budget assistance program will allow support of 35,000 families.

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