See how to pay real estate debts with FGTS

The FGTS Board of Trustees approved a measure that authorizes the use of the Severance Indemnity Fund (FGTS) to pay up to 12 overdue installments for real estate. In addition to this novelty, Caixa Econômica Federal updated the rules for using the FGTS and also how it will be debited. Want to know how this process will happen? Read this article in its entirety and find out. Good reading!

See more: Who can receive the R$ 1,000 emergency FGTS?

Is it possible to use FGTS to pay debts?

The FGTS is a government service created to ensure the financial security of workers. Although it was already possible to use the amounts from this fund to pay debts, they had a limitation of 90 days. Currently, it is possible to pay off debts within a period of up to 1 year with this money.

However, this 3-month limit was proving to be insufficient, as around 40,000 people linked to the FGTS had a longer delay in their debts. Therefore, the Board of Trustees of the FGTS decided to release higher limits on the use of the FGTS. Thus, beneficiaries can now cover 12 months of arrears.

How to use FGTS to pay late installments of real estate?

To make use of this new measure, the beneficiary must go to the bank responsible for financing the acquired property. In this way, the institution will be able to deduct up to 80% of the value of the installments with the fund's money, after the client's authorization.

However, pay attention to the limits of these plots. This is because the measure will only cover properties valued at up to 1.5 million reais. Another restriction is that anyone who has already used this money to reduce the number of installments to be paid must wait for the end of this interval.

How to withdraw FGTS money to use in real estate?

The withdrawal rules remain the same:

• Contribution of at least 3 years;
• Not having another property in the municipality;
• Not having other financing in the SFH.