[{"data":1,"prerenderedAt":294},["ShallowReactive",2],{"blog-article-pause-your-mortgage-payments-due-to-corona-en":3},{"article":4,"recommendedArticles":270},{"slug":5,"title":6,"listPicture":7,"listPictureMobile":8,"listPictureWebp":9,"listPictureMobileWebp":10,"preview":11,"category":12,"author":13,"authorImage":14,"authorImageWebp":15,"authorDescription":16,"authorSlug":17,"content":18,"contentRaw":19,"order":250,"publishedAt":251,"createdAt":251,"updatedAt":252,"seoTitle":253,"seoDescription":254,"seoKeywords":255,"seoImage":256,"mainPicture":257,"mainPictureMobile":258,"mainPictureWebp":259,"mainPictureMobileWebp":260,"language":261,"subTitle":255,"actionLabel":255,"actionType":255,"actionText":255,"id":255,"introduction":262,"tableOfContentArray":263},"pause-your-mortgage-payments-due-to-corona","Mortgage payment moratorium: Pause repayments for 3 months","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F4FXKxVstwqmyKKuh8XFl5G\u002F77d3c337d0c06a3071b0e41f61588a0d\u002Fpause-mortgage-corona-800x511.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F1BZFXR6UGMBCUqqxYoZ7ot\u002F619f017b3be31e9e4ab07de1437ac27a\u002Fpause-mortgage-corona-380x243.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F5gOohNFFoOTs8DCWegXx9g\u002Fd38cb9d4eddd321157d3445cb00fd4a1\u002Fpause-mortgage-corona-800x511.webp","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F6wauizzLY3wb2zk8pCL0ME\u002F2b03f5a8a4d4b40dff63266073339ef5\u002Fpause-mortgage-corona-380x243.webp","Germany has passed a law that allows you to pause the repayment for your mortgage for three months.","mortgage-advanced","Nick Mulder","https:\u002F\u002Fa.hypofriend.de\u002Fhypofriends\u002Fnick-mulder-1740563859.png","https:\u002F\u002Fa.hypofriend.de\u002Fhypofriends\u002Fnick-mulder.webp","Nick is Co-founder and CEO of Hypofriend","nick","  \u003Cdiv id=\"table-of-contents\">\n    \u003Cdiv class=\"headline\">\n      Table Of Contents\n    \u003C\u002Fdiv>\n    \u003Cul>\n      \u003Cli>\n  \u003Ca @click.prevent=\"$root.$emit('scrollAnchor', $event)\" href=\"#h-what-is-the-key-requirement-to-pause-mortgage-payments\">\n    What is the key requirement to pause mortgage payments?\n  \u003C\u002Fa>\n\u003C\u002Fli>\u003Cli>\n  \u003Ca @click.prevent=\"$root.$emit('scrollAnchor', $event)\" href=\"#h-what-happens-after-june-30th-2020\">\n    What happens after June 30th, 2020?\n  \u003C\u002Fa>\n\u003C\u002Fli>\u003Cli>\n  \u003Ca @click.prevent=\"$root.$emit('scrollAnchor', $event)\" href=\"#h-how-hypofriend-can-help-you\">\n    How Hypofriend can help you\n  \u003C\u002Fa>\n\u003C\u002Fli>\n    \u003C\u002Ful>\n  \u003C\u002Fdiv>\n\u003Cp>With the recent outbreak of the worldwide COVID-19 pandemic, many property owners with mortgages are faced with reduced incomes.\u003C\u002Fp>\n\u003Cp>To alleviate the financial burden for consumers who have monthly mortgage payments, the German government has stepped in with a new law (\u003Ca href=\"https:\u002F\u002Fdejure.org\u002Fgesetze\u002FEGBGB\u002F240.html\">\u003Cu>Art. 240 §3 EGBGB\u003C\u002Fu>\u003C\u002Fa>) that was passed on March 27th, 2020. \u003C\u002Fp>\n\u003Cp>The law stipulates that anybody who has closed a mortgage before March 15th, 2020, is entitled to pause its monthly mortgage payments (interest + repayment) for the 3-month period between April 1st, 2020, and June 30th, 2020. \u003C\u002Fp>\n\u003Ch2 id=\"h-what-is-the-key-requirement-to-pause-mortgage-payments\">What is the key requirement to pause mortgage payments?\u003C\u002Fh2>\n\u003Cp>The key requirement to pause mortgage payments is that the borrower\u003Cb> must have suffered a reduction in their income as a direct result of the pandemic\u003C\u002Fb>. \u003C\u002Fp>\n\u003Cp>A qualifying income reduction for employees can be short-time work (“Kurzarbeit”) or job loss. Freelancers and self-employed consumers can argue that their revenue has dropped due to clients canceling orders\u002Fservices.\u003C\u002Fp>\n\u003Cp>In addition, it is also necessary for consumers to prove that it is \u003Cb>no longer reasonable for them to pay the mortgage\u003C\u002Fb> owed due to the loss of income. In other words, the borrower has to show that they can no longer provide a reasonable standard of living for themselves and their dependents. \u003C\u002Fp>\n\u003Ch2 id=\"h-what-happens-after-june-30th-2020\">What happens after June 30th, 2020?\u003C\u002Fh2>\n\u003Cp>The lender and borrower should agree on adjusting the loan contract, notably on the payments after June 30. If the parties cannot agree, the moratorium can be extended by three months. \u003C\u002Fp>\n\u003Cp>There is no (explicit) expectation that the loan extension is free of charge. Presumably, the same interest rate will apply. In other words, expect that the unpaid interest is rolled into the loan amount, resulting in a marginally higher repayment for the remaining loan period. \u003C\u002Fp>\n\u003Cp>The moratorium does not need to be complete: If the consumer can pay part of the loan, they can agree with the lender. In practice, it would make sense to avoid unnecessary conflict with the lender.  \u003C\u002Fp>\n\u003Ch2 id=\"h-how-hypofriend-can-help-you\">How Hypofriend can help you\u003C\u002Fh2>\n\u003Cp>As a mortgage broker who has helped hundreds of clients sign a mortgage over the last three years, we at Hypofriend want to help all our clients get through this financially stressful situation. \u003C\u002Fp>\n\u003Cp>This is why we have prepared a German template you can send to the bank when you have your mortgage. You can also make use of the above law to pause your mortgage payments for the 3-month period. All you have to do is create a copy of the Google Doc file, fill in the blanks with your personal details, print the document, sign it, and send it via post to your bank. \u003C\u002Fp>\n\u003Cp>Here, you can find the \u003Ca href=\"https:\u002F\u002Fdocs.google.com\u002Fdocument\u002Fd\u002F1GRfsQ8U0SLHxHP3R-fG7s-HtsyNCLqx-PdT4kJOjqHw\u002Fedit\">\u003Cu>\u003Cb>template for employees\u003C\u002Fb>\u003C\u002Fu>\u003C\u002Fa>\u003Ca href=\"https:\u002F\u002Fdocs.google.com\u002Fdocument\u002Fd\u002F1GRfsQ8U0SLHxHP3R-fG7s-HtsyNCLqx-PdT4kJOjqHw\u002Fedit\">\u003Cu>\u003Cb>,\u003C\u002Fb>\u003C\u002Fu>\u003C\u002Fa> \u003Ca href=\"https:\u002F\u002Fdocs.google.com\u002Fdocument\u002Fd\u002F1eFpAJRmpBFSe-Wj5WKbyzKBy1VzOyYJWiCpF3TSXWDs\u002Fedit\">\u003Cu>\u003Cb>freelancers, and self-employed people\u003C\u002Fb>\u003C\u002Fu>\u003C\u002Fa>.\u003C\u002Fp>\n\u003Cp>If you have any questions about filling out the above documents, please\u003Ca href=\"https:\u002F\u002Fhypofriend.de\u002Fen\u002Fappointment\">\u003Cu> get in touch with the Hypofriend advisor\u003C\u002Fu>\u003C\u002Fa> who assisted you with your mortgage. If you have more general questions about how this process works, write us a brief message at \u003Ca href=\"mailto:info@hypofriend.de\">\u003Cu>info@hypofriend.de\u003C\u002Fu>\u003C\u002Fa>. \u003C\u002Fp>\n\u003Cp>We at Hypofriend hope that this temporary mortgage holiday will help you get through these difficult times.   \u003C\u002Fp>",{"data":20,"content":21,"nodeType":249},{},[22,31,53,60,68,85,92,108,115,122,129,136,143,150,157,205,242],{"data":23,"content":24,"nodeType":30},{},[25],{"data":26,"marks":27,"value":28,"nodeType":29},{},[],"With the recent outbreak of the worldwide COVID-19 pandemic, many property owners with mortgages are faced with reduced incomes.","text","paragraph",{"data":32,"content":33,"nodeType":30},{},[34,38,49],{"data":35,"marks":36,"value":37,"nodeType":29},{},[],"To alleviate the financial burden for consumers who have monthly mortgage payments, the German government has stepped in with a new law (",{"data":39,"content":41,"nodeType":48},{"uri":40},"https:\u002F\u002Fdejure.org\u002Fgesetze\u002FEGBGB\u002F240.html",[42],{"data":43,"marks":44,"value":47,"nodeType":29},{},[45],{"type":46},"underline","Art. 240 §3 EGBGB","hyperlink",{"data":50,"marks":51,"value":52,"nodeType":29},{},[],") that was passed on March 27th, 2020. ",{"data":54,"content":55,"nodeType":30},{},[56],{"data":57,"marks":58,"value":59,"nodeType":29},{},[],"The law stipulates that anybody who has closed a mortgage before March 15th, 2020, is entitled to pause its monthly mortgage payments (interest + repayment) for the 3-month period between April 1st, 2020, and June 30th, 2020. ",{"data":61,"content":62,"nodeType":67},{},[63],{"data":64,"marks":65,"value":66,"nodeType":29},{},[],"What is the key requirement to pause mortgage payments?","heading-2",{"data":69,"content":70,"nodeType":30},{},[71,75,81],{"data":72,"marks":73,"value":74,"nodeType":29},{},[],"The key requirement to pause mortgage payments is that the borrower",{"data":76,"marks":77,"value":80,"nodeType":29},{},[78],{"type":79},"bold"," must have suffered a reduction in their income as a direct result of the pandemic",{"data":82,"marks":83,"value":84,"nodeType":29},{},[],". ",{"data":86,"content":87,"nodeType":30},{},[88],{"data":89,"marks":90,"value":91,"nodeType":29},{},[],"A qualifying income reduction for employees can be short-time work (“Kurzarbeit”) or job loss. Freelancers and self-employed consumers can argue that their revenue has dropped due to clients canceling orders\u002Fservices.",{"data":93,"content":94,"nodeType":30},{},[95,99,104],{"data":96,"marks":97,"value":98,"nodeType":29},{},[],"In addition, it is also necessary for consumers to prove that it is ",{"data":100,"marks":101,"value":103,"nodeType":29},{},[102],{"type":79},"no longer reasonable for them to pay the mortgage",{"data":105,"marks":106,"value":107,"nodeType":29},{},[]," owed due to the loss of income. In other words, the borrower has to show that they can no longer provide a reasonable standard of living for themselves and their dependents. ",{"data":109,"content":110,"nodeType":67},{},[111],{"data":112,"marks":113,"value":114,"nodeType":29},{},[],"What happens after June 30th, 2020?",{"data":116,"content":117,"nodeType":30},{},[118],{"data":119,"marks":120,"value":121,"nodeType":29},{},[],"The lender and borrower should agree on adjusting the loan contract, notably on the payments after June 30. If the parties cannot agree, the moratorium can be extended by three months. ",{"data":123,"content":124,"nodeType":30},{},[125],{"data":126,"marks":127,"value":128,"nodeType":29},{},[],"There is no (explicit) expectation that the loan extension is free of charge. Presumably, the same interest rate will apply. In other words, expect that the unpaid interest is rolled into the loan amount, resulting in a marginally higher repayment for the remaining loan period. ",{"data":130,"content":131,"nodeType":30},{},[132],{"data":133,"marks":134,"value":135,"nodeType":29},{},[],"The moratorium does not need to be complete: If the consumer can pay part of the loan, they can agree with the lender. In practice, it would make sense to avoid unnecessary conflict with the lender.  ",{"data":137,"content":138,"nodeType":67},{},[139],{"data":140,"marks":141,"value":142,"nodeType":29},{},[],"How Hypofriend can help you",{"data":144,"content":145,"nodeType":30},{},[146],{"data":147,"marks":148,"value":149,"nodeType":29},{},[],"As a mortgage broker who has helped hundreds of clients sign a mortgage over the last three years, we at Hypofriend want to help all our clients get through this financially stressful situation. ",{"data":151,"content":152,"nodeType":30},{},[153],{"data":154,"marks":155,"value":156,"nodeType":29},{},[],"This is why we have prepared a German template you can send to the bank when you have your mortgage. You can also make use of the above law to pause your mortgage payments for the 3-month period. All you have to do is create a copy of the Google Doc file, fill in the blanks with your personal details, print the document, sign it, and send it via post to your bank. ",{"data":158,"content":159,"nodeType":30},{},[160,164,174,178,187,191,201],{"data":161,"marks":162,"value":163,"nodeType":29},{},[],"Here, you can find the ",{"data":165,"content":167,"nodeType":48},{"uri":166},"https:\u002F\u002Fdocs.google.com\u002Fdocument\u002Fd\u002F1GRfsQ8U0SLHxHP3R-fG7s-HtsyNCLqx-PdT4kJOjqHw\u002Fedit",[168],{"data":169,"marks":170,"value":173,"nodeType":29},{},[171,172],{"type":79},{"type":46},"template for employees",{"data":175,"marks":176,"value":177,"nodeType":29},{},[],"",{"data":179,"content":180,"nodeType":48},{"uri":166},[181],{"data":182,"marks":183,"value":186,"nodeType":29},{},[184,185],{"type":79},{"type":46},",",{"data":188,"marks":189,"value":190,"nodeType":29},{},[]," ",{"data":192,"content":194,"nodeType":48},{"uri":193},"https:\u002F\u002Fdocs.google.com\u002Fdocument\u002Fd\u002F1eFpAJRmpBFSe-Wj5WKbyzKBy1VzOyYJWiCpF3TSXWDs\u002Fedit",[195],{"data":196,"marks":197,"value":200,"nodeType":29},{},[198,199],{"type":79},{"type":46},"freelancers, and self-employed people",{"data":202,"marks":203,"value":204,"nodeType":29},{},[],".",{"data":206,"content":207,"nodeType":30},{},[208,212,216,225,229,238],{"data":209,"marks":210,"value":211,"nodeType":29},{},[],"If you have any questions about filling out the above documents, ",{"data":213,"marks":214,"value":215,"nodeType":29},{},[],"please",{"data":217,"content":219,"nodeType":48},{"uri":218},"https:\u002F\u002Fhypofriend.de\u002Fen\u002Fappointment",[220],{"data":221,"marks":222,"value":224,"nodeType":29},{},[223],{"type":46}," get in touch with the Hypofriend advisor",{"data":226,"marks":227,"value":228,"nodeType":29},{},[]," who assisted you with your mortgage. If you have more general questions about how this process works, write us a brief message at ",{"data":230,"content":232,"nodeType":48},{"uri":231},"mailto:info@hypofriend.de",[233],{"data":234,"marks":235,"value":237,"nodeType":29},{},[236],{"type":46},"info@hypofriend.de",{"data":239,"marks":240,"value":241,"nodeType":29},{},[],". ",{"data":243,"content":244,"nodeType":30},{},[245],{"data":246,"marks":247,"value":248,"nodeType":29},{},[],"We at Hypofriend hope that this temporary mortgage holiday will help you get through these difficult times.   ","document",10,"Fri, 17 Apr 2020 09:34:55 +0000","Mon, 19 May 2025 13:25:03 +0000","Mortgage moratorium: Pause refunds for 3 months","The Bundestag has passed a law that allows you to pause the payment for your mortgage for three months. You can read more about this here.",null,"https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F3o7HhmbwBxsN5zkAV4L75E\u002Fc6a15ab506d62b7873d1879e7a60ed87\u002Fpause-mortgage-corona-800x534.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F4cLCSd7W49jqNzz1cYMgA8\u002Fe6d445d3be19b2fe11b2af615f7095da\u002Fpause-mortgage-corona-1692x918.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F3BzcNDpcQCLIdBa7wSuBHj\u002F4f1fbab3b8901bbab9de4abbe59ebc43\u002Fpause-mortgage-corona-523x366.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002FL2HK7a0Q2IAuHraa2RwUC\u002F7b7ee96ee43aa091d6b0fdffc8313cfc\u002Fpause-mortgage-corona-1692x918.webp","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F72jq1PbP8jiSMoynupyXy6\u002F038e1d308fd1bd37fd404b01f40da20d\u002Fpause-mortgage-corona-523x366.webp","en","With the recent outbreak of the worldwide Covid-19 pandemic, many property owners with mortgages are faced with reduced incomes.",[264,266,268],{"key":265,"value":66},"#h-what-is-the-key-requirement-to-pause-mortgage-payments",{"key":267,"value":114},"#h-what-happens-after-june-30th-2020",{"key":269,"value":142},"#h-how-hypofriend-can-help-you",[271,281,286],{"slug":272,"title":273,"listPicture":274,"listPictureMobile":275,"listPictureWebp":276,"listPictureMobileWebp":277,"preview":278,"category":12,"categoryTitle":279,"categoryCode":280},"cash-out-mortgage-from-your-existing-property-in-germany","Cash-Out Mortgage: How to Unlock Wealth from Your Existing Property in Germany?","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F61qlPPB7YcT6uGtMuEZxVD\u002F0031d19efd13eccef6c230ae7fbfe6eb\u002Fnews-800x511.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F2U5AF4Jzh0sbYHDa3wNoKK\u002F8cf082a20057781fed438467ba5877ed\u002Fnews-380x243.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F6bf2ZgIc6NGtMGyDDL8WdE\u002F8e617188029d1d7d7ca56c32e9b45e51\u002Fnews-800x511.webp","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F1rJVpZ1NLJnsW62W5biSOf\u002Fab4284c09dfa1afc3e3670d4f879c4ee\u002Fnews-380x243.webp","Whether your property is fully paid off or still under mortgage, here’s how to make the most of its value.","Mortgage Advanced","dd",{"slug":282,"title":283,"listPicture":284,"listPictureMobile":284,"listPictureWebp":284,"listPictureMobileWebp":284,"preview":285,"category":12,"categoryTitle":279,"categoryCode":280},"wohndepot-germany","The Wohndepot: A New Subsidy for Future and Existing Home Owners","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F79VtQ9Bq41USTxaZ1cGsEI\u002F772e190127a6cdc2c592c42c283f1200\u002FThe_Wohndepot.png","Learn how to use the Altervorsorge Depot to Save for a Home or Reduce Your Mortgage in Germany: The Wohndepot Explained\n",{"slug":287,"title":288,"listPicture":289,"listPictureMobile":290,"listPictureWebp":291,"listPictureMobileWebp":292,"preview":293,"category":12,"categoryTitle":279,"categoryCode":280},"kfw-40-qng-guide","KfW 40 QNG: The Comprehensive Guide to Subsidies, Costs, and Requirements","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002FFCkyyfHiFgJX5IPAatzDn\u002Fe6ca561618a29110e76ed616c816213e\u002Fincrease-affordability-800x430.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F44TTyGYuOxLu0VV4xuxxq9\u002F95a4680746f00924322ef51e1a45dc61\u002Fincrease-affordability-380x243.jpg","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F459Mc4bEQ1eaPOhWqHCYG6\u002Fc3f8775364b127e0381f846f5220d2ab\u002Fincrease-affordability-800x430.webp","https:\u002F\u002Fimages.ctfassets.net\u002Fshj4zexxz7od\u002F39BPfWqntuwRhBqXccn1l0\u002F61508462595702a2b98be8b81081ef1f\u002Fincrease-affordability-380x243.webp","Here you will find out everything about KfW 40 QNG: what it is, which subsidies are available, and whether it is worthwhile for you.",1789563122716]