DHSUD orders moratorium on housing loan payments in Bicol

The Department of Human Settlements and Urban Development (DHSUD) on Monday ordered shelter agencies to enforce a moratorium on housing amortization payments in the Bicol Region amid Mayon Volcano’s ongoing unrest.

DHSUD Secretary Jose Ramon Aliling directed the Pag IBIG Fund, Social Housing Finance Corporation (SHFC), and the National Housing Authority (NHA) to implement the moratorium as part of the government’s assistance for families affected by the volcanic activity.

“Alinsunod sa direktiba ng Pangulong Marcos Jr. na ihatid ang lahat ng tulong sa ating mga kababayang apektado ng eruption, magpapatupad po ang ating mga key shelter agencies (KSAs) ng moratorium sa monthly amortization para sa kanilang housing loans,” Aliling said in a statement.

(In line with the directive of President Marcos Jr. to extend aid to our countrymen affected by the eruption, our key shelter agencies will implement a moratorium on the monthly moratorium for their housing loans.)

“Ito po ang ambag ng DHSUD at KSAs sa whole-of-government response na iniutos ng Pangulo, upang hindi na muna aalalahanin ng mga apektadong residente ang pambayad sa kanilang amortization,” he added.

(This is the DHSUD and the KSAs’ contribution to the whole-of-government approach that the President ordered, so that affected residents won’t have to worry about paying for their amortization for now.)

The KSAs are expected to issue specific guidelines regarding the moratorium, its coverage and period of imposition and other details.

Earlier, the SHFC announced that it will implement a one-month moratorium on housing amortization payments for member-beneficiaries affected by the volcano’s heavy ashfall.

READ: Mayon unrest to persist for weeks — PHIVOLCS

The National Home Mortgage Finance Corporation (NHMFC) has an ongoing payment moratorium for its member-beneficiaries due to the declaration of a state of national energy emergency.

Apart from the moratorium, Aliling directed the DHSUD Regional Office 5 to closely coordinate with other government agencies, particularly with the Office of the Civil Defense (OCD), to ensure timely housing assistance to the affected residents.

“Nakahanda po ang DHSUD na makipagtulungan sa iba pang ahensya ng gobyerno upang mas maximize po natin ang assistance sa ating mga kababayan, at mapabilis ang paghatid nito sa mga higit na nangangailangan,” he added.

(The DHSUD is ready to cooperate with other government agencies to maximize the assistance for our countrymen and to expedite the delivery of aid to those in most need.) — JMA, GMA News