Make your own home come true, using your unemployment benefits
Acquiring a home of their own is the desire of the majority of Colombians. A home that allows families to have a heritage and support. Owning a home has many advantages that improve our quality of life; it is a savings, it gives security and stability and even contributes to having a good credit history. For that reason, to use their layoffs to acquire a house is the best investment.
The layoffs are a benefit that every employer must recognize their workers and these resources are recorded each year in the well-known Pension and Severance Funds. This money is destined to a series of specific uses: in case of unemployment, for education and to invest in housing. Undoubtedly, save the layoffs for one of the great investments of life, such as having your own home, is an excellent decision.
This benefit is equivalent to one month of salary for each year of work, which is settled at the end of each period and, according to the law, must be recorded in a severance fund before February 15 of the following year.
There are several ways to use your money saved in severance funds and allocate it to housing. You can choose between home purchase, projects on plans or a lot or land, you can even extend or make improvements to your current home. Also, you can choose to release mortgage liens or taxes associated with your home as property and valuation.
To access these resources, you must meet some requirements. The first step is to request an original letter from the human resources area of your company authorizing the retirement of the severance payments. It must be borne in mind that companies usually request some documents to issue the authorization letter, because they are obliged to ensure that severance payments are withdrawn only for cases permitted by law.
Additionally, each company has different policies and procedures for the dismissal process, so it is important to validate with your employer what is the procedure to carry out the withdrawal.
Those responsible for making the disbursement of severance money are private funds. For example, Colfondos, Protección, Porvenir or the National Savings Fund. So once you have this information, you can approach the Fund in which you record your layoffs, to know more details and to make the withdrawal.
Ideally, in the end, whether it is on plans, new or used, your home will fulfill your dreams and those of your family. Using the layoffs to buy a home, is the first step to make this dream come true.