NHMFC grants moratorium for borrowers affected by Crising

MANILA, Philippines — The National Home Mortgage Finance Corporation (NHMFC) granted a one-month moratorium on amortization payments for housing loan borrowers affected by Tropical Storm Crising.

The implementation of the moratorium is in accordance with the directive of Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling, for the government’s key shelter agencies to exhaust all ways to assist typhoon victims and to immediately implement the same at the soonest possible time.

“We are committed to supporting our housing loan borrowers during this challenging time, and this moratorium is one of the concrete steps we are taking to align with the efforts of President Marcos and Secretary Aliling to immediately bring much needed relief to our affected communities,” NHMFC president Renato Tobias said.

“This relief aims to ease the financial burden of affected families while they recover from the disaster,” Tobias added.

The moratorium will be effective up to Aug. 18, 2025. Borrowers in storm-affected areas are automatically qualified, subject to NHMFC’s internal rules and regulations.

In a statement, DHSUD Undersecretary for Disaster Response Henry Yap said all regional offices (ROs) in typhoon-affected areas were already ordered to work closely with local government units (LGUs) and other government agencies for the immediate delivery of post-disaster assistance.

“All ROs in the typhoon-affected areas are directed to actively engage LGUs and other partner-agencies and convene your respective shelter clusters immediately to determine the extent of assistance necessary,” Yap said.

As of 9 a.m. yesterday, the Department of Social Welfare and Development (DSWD) reported a total of 276 houses damaged by Crising – 34 of which were totally damaged, while 242 others were partially damaged.

Yap said the DHSUD’s key shelter agencies, namely the Home Development Mutual Fund or Pag-IBIG Fund, Social Housing Finance Corporation, NHMFC and the National Housing Authority were likewise directed to extend assistance to typhoon victims.

“This may include amortization relief/breaks, community assistance on resettlement and project sites, provision of hygiene kits,” he said.

As immediate assistance, Yap said the DHSUD, in collaboration with partner non-government organizations, can also deploy shelter-grade tents that may be used as temporary shelter by the victims.

The DHSUD serves as the government’s lead shelter agency, especially in times of disasters and calamities as provided under National Disaster Risk Reduction and Management Council Resolution 5 Series of 2022.

In compliance with this, the DHSUD implements the Integrated Disaster Shelter Assistance Program, which provides unconditional cash assistance of P30,000 to families whose houses are totally damaged during typhoons and other calamities and P10,000 for those with partially damaged houses.