NHA suspends interest on housing loan payments

HOUSING loan borrowers can pay their obligations without any interest, even for those who pay late, a top official of the National Housing Authority (NHA) said on Tuesday.

Assistant General Manager Alvin Feliciano said the agency has also implemented a one-month moratorium on the payment for housing program clients for the period of July 1 up to July 31, 2024.

«These were the directives from our General Manager Joeben Tai, who received instructions from Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development to extend all necessary support to those affected by the recent southwest monsoon and Typhoon Carina,» Feliciano said.

Assistant General Manager Alvin Feliciano Photo Official Facebook Page of the National Housing Authority.

He clarified that only borrowers from the National Capital Region and Regions 3 (Central Luzon) and 4 (Calabarzon) would be covered since these were the hardest-hit areas.

After the one-month moratorium, the NHA official said the regular amortization and lease payments resume on Aug. 1, 2024.

He reiterated that delinquency or additional interest charges are also on hold from July 1, 2024 to Dec. 31, 2024.

Advertisement

Penalties and interest charges for delinquent residential accounts for the same beneficiaries will resume on Jan. 1, 2025, Feliciano said.

The moratorium and the six-month suspension of interest were ways the NHA could ease the burden of families affected by the calamity, Feliciano said.

He said the moratorium was expected to benefit thousands of Filipino families with outstanding loans to key shelter agencies.