OREANDA-NEWS According to the results of 2024, the volume of overdue mortgage loans in Russia may exceed 100 billion rubles, the Debt Consultant collection agency said in a statement.

"The situation of mortgage defaults is getting worse and worse. The share of non-payments in the portfolio increased from 0.35% at the beginning of the year to 0.41% (as of September 1 - ed.), double-digit mortgage rates do not allow debtors to quickly sell housing to pay off debts," it says.

The report emphasizes that the volume of overdue mortgages increased by 28% in the eight months of 2024, exceeding 78.1 billion rubles as of September 1. Residents of Moscow (16% or 12.6 billion rubles), the Moscow Region (11% or 8.7 billion rubles) and the Krasnodar Territory (6% or 5 billion rubles) have the most debts.

"In the statistics for the autumn of 2024, the situation will worsen even more noticeably, as the problem portfolio will begin to be actively replenished with non-payments after the cancellation of preferential mortgage programs and an increase in the key rate in July and September 2024," the press release says.

It also notes that debtors have run out of additional resources, and a potential buyer of problematic housing has "literally disappeared."