Lando victims to get moratorium on housing loan payment

MANILA, Philippines – The National Home Mortgage Finance Corp. (NHMFC) will implement a six-month moratorium on the payment of housing loans for victims of Typhoon Lando.

Qualified borrowers in Regions 1, 2, 3, 4-A, 5, Metro Manila and the Cordillera Autonomous Region can avail themselves of the moratorium not later than Jan. 15, 2016, the NHMFC said yesterday.

Applicants must present an original certification from the barangay chairman that the borrower’s property was damaged by the typhoon.

The moratorium shall be effective for six months starting on the first due date after Oct. 17, 2015.

If the borrower is no longer interested to pay his debt, he may surrender his property to the NHMFC through dacion en pago, or in exchange for his loan.