Pag-IBIG: 3-month moratorium not automatic, borrowers should apply online

The Home Development Mutual Fund (Pag-IBIG) on Monday clarified that the three-month moratorium on loan payments is not automatic, and members will have to apply online to avail of such payment scheme.

According to Pag-IBIG public relations office head Jack Jacinto Jr., members who wish to avail of the scheme will have to input their account number for housing loans, and identification number for multipurpose loans.

"Ang kailangang mag-apply online ay 'yung three months moratorium, 'yung mga gustong makakuha ng tatlong buwang extension or three-month moratorium," he said in an interview on GMA Super Radyo dzBB.

Those qualified to avail of the offer are Pag-IBIG Fund Housing Loan, Multipurpose Loan, and Calamity Loan borrowers with payments due on March 16, 2020 until June 15, 2020. It is applicable nationwide. 

Aside from the three-month moratorium announced by Pag-IBIG in March, the agency has also implemented a grace period which automatically covers all loans during the enhanced community quarantine (ECQ).

"'Yung interest during the period of ECQ, 'yan ay maaari nilang bayaran anytime within the remaining life of the loan para hindi ganon kabigat," said Jacinto. -NB, GMA News