Application to future installments
Can I apply my severance pay to future installments of my mortgage?
Yes. Severance pay can be applied to a mortgage or educational loan with the following option:
Payment towards future installments: prepayment of installments not yet due.
What should I keep in mind to apply my severance pay to my mortgage loan?
To request the use of Severance pay for the loan under any of the available options, the following should be considered:
- 1.
If the mortgage loan was disbursed before January 1, 2012, severance payments are applied as a "principal payment with term reduction." To change the way severance payments are applied or keep them in the individual account, you must:
Complete the form 'Request for application of Severance or voluntary savings to loan' and choose the option you want for applying your Severance.
Sign the corresponding addendum (otrosí) for the selected option.
- 2.
If the mortgage loan was disbursed from January 1, 2012, the severance pay is 'kept in the individual account with pledge.' To apply the severance pay to the loan using one of the alternatives, you have the following options:
Enter www.fna.gov.co choose the Online Fund, Wallet, and Severance Application Option.
Or fill out the form 'Request for severance pay or voluntary savings for credit,' check the desired option for applying the severance pay, and submit it at any service point nationwide.
- 3.
To request the application of your severance pay, the loan must be up to date.
If the originally agreed contract is modified, the debtor will have to comply with it if they want to make future principal payments, and the National Savings Fund will have to approve it first.