Pag-IBIG, state housing borrowers get 3-month payment relief

ABS-CBN News

Posted at May 12 2020 01:05 PM

MANILA - Consumers with housing loans under state agencies and government-owned and controlled corporations will be given a 3-month payment moratorium to cushion the impact of COVID-19, an official said Tuesday. 

Those with housing loans under the Pag-IBIG Fund, National Housing Authority, National Home Mortgage Finance Corp and the
Social Housing Finance Corp won't have to pay for their monthly dues from March 16 to June 15, said Department of Human Settlements and Urban Development Secretary Eduardo Del Rosario. 

The moratorium includes short-term and calamity loans from Pag-IBIG fund, he said. 

"Nagkaroon tayo ng suspension para ang ating mga kababayan na naghihirap ngayon sa panahon ng COVID ay hindi na sila maghanap ng pera para maghulog pambyad sa bahay o short term loans," he said. 

(We had a suspension so that our fellowmen who are suffering during the COVID-19 pandemic won't have to find money to pay for their housing or short-term loans)

The payments were postponed which will extend loan term for another 3 months, Del Rosario said.

Banks, landlords and utility providers also extended grace periods for payments in accordance with the Bayanihan to Heal as One Act, the country's coronavirus response law.