The Department of Human Settlements and Urban Development (DHSUD) and its attached agencies have implemented a payment moratorium and calamity loan program for residents affected by Tropical Storm “Crising” and the southwest monsoon, following the directive of President Ferdinand R. Marcos Jr.
In a news release on Thursday, the DHSUD said the Social Housing Finance Corporation (SHFC), National Housing Authority (NHA), and National Home Mortgage Finance Corporation (NHMFC) have announced a one-month moratorium on amortization payments for beneficiaries in affected areas.
Meanwhile, Pag-IBIG Fund has activated its calamity loan program across all its branches nationwide.
Qualified members in affected areas may borrow up to 90 percent of their total savings, which includes monthly contributions, employer counterpart contributions, and earned dividends.
Insurance claims are also available for existing housing loan borrowers with damaged properties.
DHSUD Secretary Jose Ramon Aliling said the measures are part of a coordinated effort to assist disaster-hit families and help them recover.
“Ang moratorium ay magsisilbing bawas alalahanin samantalang ang calamity loan naman ay magbibigay ginhawa kahit papaano sa ating mga kababayang nabiktima ng kalamidad (The moratorium will help ease worries, while the calamity loan will provide some relief to our fellow citizens affected by the disaster),” he added.
He added that the department is working with local government units (LGUs) to implement the Integrated Disaster Shelter Assistance Program (IDSAP), with LGUs tasked to identify and endorse qualified beneficiaries.
The Pag-IBIG Fund, SHFC, NHA, and NHMFC are notifying affected borrowers and streamlining procedures for the rollout of the moratorium and loan program. (PNA)