NHMFC grants relief to typhoon-affected borrowers

MANILA, Philippines — More than 20,000 housing loan borrowers of the National Home Mortgage Finance Corp. (NHMFC) who are affected by Tropical Storm Maymay and the southwest monsoon were given a one-month moratorium in the payment of their monthly amortizations effective Aug. 5.

The moratorium is part of NHMFC’s efforts to provide immediate financial relief to borrowers affected by calamities and severe weather conditions in the provinces of Benguet, Bataan, Bulacan, Batangas, Cavite, La Union, Pangasinan, Pampanga, Occidental Mindoro, Oriental Mindoro, Rizal, Tarlac and Zambales.

NHMFC president Renato Tobias said the measure intends to give affected families temporary relief as they recover and address their immediate needs.

“Through this moratorium, NHMFC is providing our affected borrowers with immediate financial relief while assuring them that we remain ready to support them as they rebuild and recover,” Tobias said.

Under the moratorium, payment of monthly amortizations will be deferred for one month, with no penalties or surcharges imposed on the deferred amortization during the period.

Borrowers covered by the moratorium who still wish to continue their monthly payment may do so voluntarily.

For borrowers whose accounts are updated, any payment made during the moratorium period will be considered as advance payments.

Tobias said that through these relief measures, NHMFC continues to uphold its commitment to responsive public service and to supporting Filipino homeowners during times of calamity and financial difficulty.