Great opportunity for those who have money in FGTS

Board of Trustees Decision No. 1.057 / 2022 No Termination Compensation Fund (fgts). This decision allows the worker to use the balance of the fund to settle late mortgage installments.

advice fgts He approved the decision in December last year. This way, the worker will be able to settle up to six late installments from the home. However, although this measure has come into effect, it is not yet available.

the Caixa Economica Federal I learned that they have a period of 30 days to organize the process, starting from day 2. It is important to remember that Caixa is the bank in charge of the FGTS fund.

background changes

The changes started in April last year due to the pandemic. On this occasion, the FGTS Board of Trustees Increasing the fund balance usage limit to twelve months to settle late installments, which was previously three months.

This measure was in effect until the end of 2022, and with the new design, this FGTS usage limit is reduced to six months, that is, by half. However, despite the sharp decline, the factor still has an advantage. This is because traditionally this limit is only three months.

In order to change the term limit for using FGTS to pay off debts, the Board of Trustees needed judicial authorization. This measure was taken because about 80,000 home loans were overdue by more than three instalments. These are considered cases of serious default, and 50% of them have an account linked to FGTS.

How to use FGTS to pay off debt

The Termination of Service Compensation Fund (FGTS) aims to protect workers who have been dismissed without a valid reason, by creating an account linked to their employment contract.

At the beginning of each month, employers invest in Caixa accounts linked to workers, the equivalent of 8% of each worker’s salary.

to settle Late installments Give Private houseThe worker must search for the bank that carried out the housing finance. This is after the resource is available. Therefore, the worker can pay up to 80% of the value of each overdue installment (limited to six installments) using FGTS.

However, the mechanism is only valid for properties up to R$1.5 million in value and there will be restrictions. Therefore, one of the limitations is that the worker must have contributed to the FGTS for at least three years, in successive periods or not.

In addition, the worker cannot obtain other active financing in the SFH (financial housing system), nor can he own another property in the municipality or metropolitan area where he works or lives.

Finally, the Board of Trustees of Dr fgts You have not made other changes regarding the use of the funds to purchase a home. This means that the terms of liquidation, amortization, or provision of a portion of the non-defaulting premium continue to operate in the same manner.