Typhoon, earthquake victims get one-month moratorium on housing payments

The National Home Mortgage Finance Corporation (NHMFC) and the Social Housing Finance Corporation (SHFC), both under the Department of Human Settlements and Urban Development, have issued a one-month moratorium on the payments for housing amortization for those affected by the recent tropical cyclones and earthquake in Cebu. 

The NHMFC said that there are more than 800 housing loan borrowers. 

“Ito po ay automatic na ia-apply natin sa mga accounts na affected po nung nagdaan na bagyong Nando at Opong, also at the same time, under na rin ng moratorium yung mga nasa lugar na apektado ng magnitude 6.9 na lindol sa Central Visayas. So dito po, mayroon po tayong tinatayang 822 accounts na magbe-benefit sa moratorium,” said NHMFC Securitized Accounts Division officer-in-charge Shara Jane Falceso in Bagong Pilipinas Ngayon. 

(This will be automatically applied to the accounts affected by the recent typhoons Nando and Opong. Also, at the same time, accounts in the areas affected by the magnitude 6.9 earthquake in Central Visayas are now under the moratorium. With this, we estimate that 822 accounts will benefit from the moratorium.) 

The moratorium covers the areas under the state of calamity in Mimaropa, Bicol Region, Western Visayas, and Central Visayas. 

The moratorium period is from October 3 to November 2, the NHMFC said in a Facebook post. 

Likewise, the SHFC, which targets low-income families, issued a moratorium covering those in Mimaropa, Bicol Region, and Western Visayas. 

“Our priority is the welfare of our communities. By suspending monthly amortization payments, we are giving them space to stand back on their feet without the added pressure of financial obligations,” said SHFC President and CEO Federico Laxa in a statement. 

According to the National Disaster Risk Reduction and Management Council, more than 20,000 houses in Mimaropa, Bicol Region, and Western Visayas were totally damaged due to tropical cyclones Mirasol, Nando, and Opong. 

Meanwhile, a total of 5,013 houses were damaged in Central Visayas —4,355 partially and 658 totally. —LDF, GMA Integrated News