The National Housing Authority has deferred the amortization payments on all of its projects as a Christmas gift.
“NHA now approves the two-month suspension for amortization or lease payments from residential account holders in all existing NHA projects, as well as commercial, industrial and institutional accounts,” general manager Marcelino Escalada Jr. said.
“This is our gift to our housing beneficiaries to aid them in this coming Christmas season.”
The NHA issued an Oct. 9 a memorandum circular in the spirit of and pursuant to Republic Act 11494, or the Bayanihan to Recover as One Act dated Sept. 11, to help housing beneficiaries and commercial, industrial and institutional awardees/lessees recover from the burden they have been experiencing due to the coronavirus disease 2019.
The moratorium will cover the payments from Nov. 1 to Dec. 31, Escalada said.
The resumption of payments will be on Jan. 1 next year.
Those qualified are individual accounts or community associations, estate and non-estate-based commercial, industrial and institution accounts in the regions with updated accounts as of Oct. 31 and active accounts with arrears of up to three months as of Oct. 31.
The program specifically emphasized that there was no need for housing beneficiaries to apply for this measure.
The suspended amortizations due will not incur delinquency or additional interest charges, while for commercial, industrial and institutional accounts, the delinquency interest will be waived.