The Department of Human Settlements and Urban Development (DHSUD) and its attached agencies have rolled out a payment moratorium and a calamity loan program to ease the burden of those affected by a string of tropical cyclones that have hit the country, as well as continuous rains brought about by the southwest monsoon.
In a statement on Thursday, DHSUD said the Social Housing Finance Corp. (SHFC), the National Housing Authority (NHA), and the National Home Mortgage Finance Corp. (NHMFC) have implemented a one-month moratorium on amortization payments for their beneficiaries in areas affected by the typhoon and storms.
The combined effects of tropical cyclones Crising, Dante and Emong and the southwest monsoon have left 12 dead and caused severe floods that have affected some 2.73 million people across the country, the National Disaster Risk Reduction and Management Council (NDRRMC) said.
DHSUD said Pag-IBIG Fund has activated its Calamity Loan Program, including insurance claims for current Pag-IBIG housing loan borrowers whose properties were damaged.
Under this, qualified members in affected areas may borrow up to 90 percent of their total Pag-IBIG Fund savings, which include their monthly savings, employer counterpart contributions, and earned dividends.
DHSUD Secretary Jose Ramon Aliling stated that the agency is also closely coordinating with local government units to assist the Integrated Disaster Shelter Assistance Program (IDSAP).
DHSUD stated that PAG-IBIG, SHFC, NHA, and NHMFC are now taking all necessary steps to notify affected borrowers and streamline application procedures for the seamless rollout of the moratorium and loan program.
In a separate statement on Thursday, the Pag-IBIG Fund announced that it is offering a one-month moratorium on housing loan payments to assist members affected by calamities.
The Fund said Pag-IBIG Housing Loan borrowers residing or working in areas officially declared under a state of calamity may apply for the moratorium to help ease their financial burdens and redirect their resources toward urgent recovery needs.
Areas that have made such a declaration include Manila, Quezon City, Cebu City, Marikina City, Malabon City, Dagupan City, the province of Cavite, Calumpit in Bulacan, Sebaste and Barbaza in Antique, Calasiao and Umingan in Pangasinan, and Cainta in Rizal. Additional areas that may be declared under a state of calamity in the coming days will also be covered.
Under Pag-IBIG Fund’s One-Month Housing Loan Payment Moratorium, qualified borrowers will have their monthly amortizations or installment payments temporarily suspended for one month, without incurring penalties or additional interest. Loan terms will be extended accordingly, with all other conditions, including interest rates, remaining unchanged.
Eligible housing loan borrowers may file their applications until August 24, 2025, either online through the agency’s Virtual Pag-IBIG platform or by visiting any Pag-IBIG Fund branch. No processing fee will be charged. This follows the agency’s earlier announcement that its Calamity Loan Program is now open for members in areas declared under a state of calamity, and that Housing Loan Insurance claims are available for borrowers with damaged homes financed through Pag-IBIG Fund.
