MANILA— The Department of Human Settlements and Urban Development (DHSUD) on Friday suspended the collection of monthly loan amortization to its more than 5 million key shelter agencies (KSAs) members amid the implementation of the enhanced community quarantine over Luzon and other provinces to contain the spread of the coronavirus disease.
DHSUD Secretary Eduardo Del Rosario said the department allowed a three-month moratorium to its KSAs members and beneficiaries so that “they will be able to comply with the quarantine guidelines imposed by the government.”
He said coming up with the suspension of monthly payment “may help ease the burden of the payees.”
“By offering the moratorium, member-beneficiaries of our KSAs won’t have to worry about their monthly amortizations anymore in the next three months amid the COVID-19 scare,” he said, noting that the moratorium period is effective from March 16 until June 15.
“This is DHSUD’s initiative in support of President Duterte’s all-out efforts to assist our kababayans amid these challenging times,” he added.
He said a total of 5,225,783 KSA members and beneficiaries will benefit from the three-month moratorium.
The KSAs include Home Development Mutual Fund (Pag-IBIG), the National Home Mortgage Finance Corporation, and the Social Housing Finance Corporation.
Meanwhile, the National Housing Authority (NHA) has also suspended its collection of amortization or lease payments from residential account holders in all existing NHA Projects.
In a statement, NHA said the resumption of payments will be due on June 16.
The housing department assured the application of individual accounts, Community Association Account and all existing residential account holders will be automatically processed.
There are no additional interest charges throughout the suspension period. (PR)