On December 28, Russian President Vladimir Putin signed a law for early repayment of mortgages in connection with the death or killing of a soldier.
Under the law, the Ministry of Defense of Russia will repay a mortgage loan ahead of schedule within 30 days from the day of receiving a written application by the family or other legal successors. Therefore, the entire loan will be repaid in a single payment and the legal successors of the dead or killed soldier will have no financial obligations or limitations regarding the property obtained in the framework of the military mortgage program.
The military mortgage program covers new and pre-owned apartments, detached houses with land, and townhouses. The offer is available to military personnel who are part of the savings and mortgage system entitled to get a mortgage under Federal Law No. 117-FZ On Savings and Mortgage System for Military Personnel dated August 20, 2004. After three years of service, a Russian military service member is able to join a 20-year-long military mortgage program. Under the program as long as he serves in the Russian Armed Forces, the government pays his mortgage.
The new mortgage law is an important step for all Russian military personnel involved in military and anti-terrorism operations around the world. It will increase the popularity of the Russian government among military personnel even further.
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