Pag-IBIG Fund OKs P32-M calamity loan for Zambo members

ZAMBOANGA CITY - Vice President Jejomar Binay has said that Pag-IBIG Fund has approved P32-million in calamity loans to its members in this city, which has been placed under a state of calamity following the siege of the Misuari-faction Moro National Liberation Front (MNLF).

Binay said in a statement that aside from the calamity loan, Pag-IBIG also offers a 3-month moratorium on housing loan payments to borrowers whose properties mortgaged with the Mutual Fund have been damaged by the conflict.

Binay said the agenchy has already approved the loans of 1,732 members while 4,000 other applications that were affected by the conflict are already being processed.

“Pag-IBIG is committed to help ease the suffering of the people of Zamboanga and assist them as they recover from the crisis,” Binay said.

He said the moratorium on the payment of mortgaged properties is in response to the city's state of calamity declaration.

The Pag-IBIG Fund also said that the housing loan borrowers may apply for the 3-month moratorium as long as their loan account is updated prior to the declaration of the calamity.

The National Home Mortgaged Finance Corporation (NHMFC) also implemented a 6-month moratorium on the amortization payments for the conflict-affected borrowers.

The agency has identified at least 95 properties worth P76-million in the barangays of Rio Hondo, Mariki, Sta. Barbara, Sta. Catalina, and Kasanyangan, which were devastated by the 22-day standoff.