The Department of Human Settlements and Urban Development (DHSUD) and its attached agencies have rolled out payment moratoriums and calamity loans to help typhoon victims.
The Social Housing Finance Corp. (SHFC), the National Housing Authority (NHA) and the National Home Mortgage Finance Corp. (NHMFC) implemented a one-month moratorium on amortization payments for beneficiaries in typhoon-affected areas.
Simultaneously, the Pag-IBIG Fund activated its Calamity Loan Program across all its branches nationwide for typhoon victims. This also covers insurance claims for current Pag-IBIG housing loan borrowers whose properties were damaged.
Under the program, qualified members in affected areas can borrow up to 90 percent of their total Pag-IBIG Fund savings, which includes monthly savings, employer contributions, and earned dividends.
DHSUD Secretary Jose Ramon Aliling said this initiative is part of a coordinated effort by housing agencies to ease the burden on typhoon-affected families and aid their recovery.
“As directed by President Ferdinand Marcos Jr., we are ensuring that affected families receive urgent support to help them recover,” Aliling said.
He said the moratorium would reduce worries, while the calamity loan would provide some relief to “our countrymen who were victims of the calamity.”
Aliling said the DHSUD was also closely coordinating with local government units (LGUs) to provide assistance under the Integrated Disaster Shelter Assistance Program (IDSAP). LGUs are crucial in identifying affected areas and endorsing qualified beneficiaries.
“DHSUD and our key shelter agencies are closely working with LGUs to guarantee proper coordination and fast implementation on the ground. This is a united effort to provide relief and help families get back on their feet,” he said.
Pag-IBIG, SHFC, NHA and NHMFC are taking all necessary steps to notify affected borrowers and streamline application procedures for the seamless rollout of the moratorium and loan program, the DHSUD said.
