NHMFC grants one-month moratorium on housing loans in calamity-hit areas

The National Home Mortgage Finance Corporation (NHMFC) has granted a one-month moratorium on the amortization of housing loans for borrowers affected by recent typhoons and the magnitude 6.9 earthquake in Central Visayas.

In a Bagong Pilipinas Ngayon interview Friday, NHMFC officer in charge of the Securitized Accounts Division Shara Jane Falceso said the relief measure follows the directive of President Ferdinand R. Marcos Jr. and the Department of Human Settlements and Urban Development (DHSUD).

Falceso said billing will be automatically suspended for 822 loan accounts affected by Typhoons Nando and Opong, as well as those in earthquake-hit areas in Mimaropa, Bicol, Western Visayas, and Central Visayas.

The moratorium will run from Oct. 3 to Nov. 2, with regular billing resuming on Nov. 3. Borrowers are not required to file applications for coverage.

“This does not cancel obligations but simply extends the loan term by one month. No penalties or additional interest will be imposed,” Falceso said.

NHMFC stressed that the move forms part of government efforts to help Filipino families rebuild in the wake of natural calamities.