The National Home Mortgage Finance Corp. said Wednesday more delinquent housing loan borrowers are benefitting from its “TODO Diskwento” program.
The program not only offers a guaranteed 100-percent penalty condonation, but a higher discount on unpaid interests that can go as high as 100 percent depending on the borrower’s total payments made.
NHMFC president Renato Tobias said “this makes the program the most extensive penalty condonation program in the history of NHMFC.”
The NHMFC targeted a total of 2,700 delinquent borrowers to benefit from the program. Accounts in arrears by four to 12 months as of Aug. 31, 2023 are qualified to avail of the 100-percent discount on unpaid interests.
“With TODO, we have already released more transfer certificate of titles [TCTs],” said Tobias.
He encouraged NHMFC’s delinquent housing loan borrowers to hurry and visit the nearest NHMFC office and avail of TODO to save thousands of pesos from penalties and unpaid interests.
“We’ve always lived up to our mandate of increasing the availability of affordable housing loans for our Filipino homebuyers, but while doing so, we wanted to help them [homebuyers] save their precious homes from delinquency, no matter what circumstances they have experienced. That is why we offer the TODO Diskwento program as a significant financial relief to our Filipino homebuyers,” he said.
NHMFC is one of the government’s key shelter agencies under the Department of Human Settlements and Urban Development.