Pag-IBIG offers 1-month payments moratorium

July 26 ------ THE Pag-IBIG Fund has announced a one-month moratorium on housing loan payments to assist members affected by recent storms and the southwest monsoon. Pag-IBIG Fund Chief Executive Officer Marilene Acosta said in a statement that the move was part of its continuing response to President Ferdinand Marcos Jr.’s call to deliver swift and responsive relief to calamity-stricken members. “Our priority is to reduce the financial burden on our members as they recover from the impact of recent calamities,” Acosta said.

She said the housing loan moratorium will provide immediate relief to its members so that they can focus on their families, safety and rebuilding. “We understand what it means to face uncertainty after a disaster, and that is why we are here,” Acosta said.

Pag-IBIG Housing Loan borrowers residing or working in areas declared under a state of calamity — including Manila, Quezon City, Cebu City, Marikina City, Malabon City, Dagupan City, the province of Cavite, Calumpit in Bulacan, Sebaste and Barbaza in Antique, Calasiao and Umingan in Pangasinan, and Cainta in Rizal — may apply for the moratorium to help ease their financial burdens and redirect their resources toward urgent recovery needs.

Additional areas that may be declared under a state of calamity in the coming days will also be covered, Acosta said. Human Settlements and Urban Development Secretary Jose Ramon Aliling, who also heads the 11-member Pag-IBIG Fund board of trustees, reiterated that Pag-IBIG stands in full support of the President’s directive to extend immediate assistance to the fellow Filipinos affected by three consecutive storms that hit the country this month as well as the southwest monsoon. “This one-month moratorium on housing loan payments reflects our commitment to compassionate governance and our determination to help affected members rebuild their lives during these difficult times,” the housing czar said.

Under the agency’s one-month housing loan payment moratorium, qualified borrowers will have their monthly amortizations or installment payments temporarily suspended for one month, without incurring penalties or additional interest. Moreover, loan terms will be extended accordingly with all other conditions, including interest rates, remaining unchanged, it added.

Eligible housing loan borrowers may file their applications until Aug. 24, either online through the agency’s Virtual Pag-IBIG platform or by visiting any Pag-IBIG Fund branch.

Source: manilatimes.net