The Bank of Russia has issued recommendations for creditors to support mortgagors whose homes were damaged or destroyed in the Belgorod, Bryansk, and Kursk Regions.
In cases where a mortgaged property was completely destroyed, creditors are encouraged to consider debt forgiveness. For housing that was partially destroyed but can be restored, creditors should suspend mortgage repayments for one year without accruing interest. Additionally, debt should be written off in particularly severe life situations.
Creditors are also advised to expedite loan restructuring applications from residents of the border regions and evacuees, allowing for a suspension of mortgage repayments for up to one year without charging interest.
The Bank of Russia emphasizes that any restructuring should not negatively impact borrowers' credit histories. Creditors are instructed to notify borrowers of decisions using any available means.
For further information about support for mortgagors in the Belgorod, Bryansk, and Kursk Regions, individuals can contact the Bank of Russia’s hotline at 8 495 771-44-20 or 8 800 250-15-24.
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