Manila: The National Housing Authority (NHA) announced on Thursday that it has initiated an automatic one-month housing amortization moratorium for all its beneficiaries in Mindanao as a measure to provide financial relief following the recent earthquake.
According to Philippines News Agency, NHA General Manager Joeben Tai, during an interview on Bagong Pilipinas Ngayon, confirmed the implementation of the moratorium across Mindanao. Beneficiaries will not be required to make amortization payments for the month of June. The agency is also evaluating the possibility of extending the moratorium.
Tai clarified that qualified beneficiaries do not need to submit documentation to avail of the relief. The moratorium is automatically applied to NHA accounts, ensuring beneficiaries face no financial burdens for the month of June.
The moratorium period remains interest-free. For June, there is no interest or penalty, and beneficiaries are expected to resume payments in July unless the moratorium is extended. If extended, payments can be deferred until the moratorium concludes.
In addition to financial relief, the NHA is conducting field inspections with local government units (LGUs) and municipal building officials to assess the safety of existing housing projects. Structural defects have already necessitated evacuation at a housing site in Davao.
The NHA's immediate recovery efforts focus on General Santos City, near the earthquake's epicenter. Next week, the NHA plans to distribute PHP30,000 to each of 2,000 families in General Santos City whose homes were destroyed.
The agency is also utilizing its Emergency Housing Assistance Program to provide cash grants ranging from PHP10,000 to PHP30,000 to individuals with damaged properties across Mindanao, pending finalization of validated data from LGUs.
Long-term community reconstruction plans are being developed as Tai prepares to meet with Mindanao mayors in General Santos City for land identification for new relocation projects. Affected residents are encouraged to register through local government offices to receive timely shelter aid.
