Govt sets moratorium on housing loans in quake-hit Mindanao

The Manila Times

Govt sets moratorium on housing loans in quake-hit Mindanao

MANILA, Philippines —Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling on Wednesday announced a housing loan moratorium for the victims of the magnitude 7.8 earthquake that struck parts of Mindanao. Aliling said the moratorium wasin response to President Ferdinand Marcos Jr.'s directive for the immediate mobilization of government assistance in the affected areas. Specifically, the DHSUD chief directed the Department's key shelter agencies (KSAs)—the Pag-IBIG Fund, National Housing Authority (NHA), Social Housing Finance Corporation and National Home Mortgage Finance Corporation—to undertake the necessary steps for the imposition of a housing loan moratorium for qualified affected beneficiaries. The housing department said guidelines of each of the KSAs on the implementation of the moratorium and its coverage would be announced soon. “The directive forms part of the Marcos Jr. administration's whole-of-government response, following the strong earthquake that reportedly killed dozens of people,” Aliling said. Apart from the moratorium on housing amortization, Pag IBIG Fund and NHA immediately deployed teams to provide immediate assistance to quake victims. Two Pag IBIG on Wheels Mobile Branches were sent to General Santos City and Dipolog City to assist affected members while NHA teams were dispatched to conduct ground assessment for the processing of emergency shelter assistance. At the same time, the housing czar instructed the agency’s regional offices to activate its shelter clusters to ensure preparedness and facilitate the immediate delivery of shelter-related interventions should the situation warrant further response measures. The activation covers close coordination with local government units, the Office of Civil Defense, National Disaster Risk Reduction and Management Council and other agencies to assess damages to houses and identify families requiring immediate shelter assistance. Aliling also directed the DHSUD Regional Office XII (SOCCSKSARGEN) to conduct rapid ground assessment of affected communities, particularly in areas placed under the state of calamity. “We continue to coordinate with local governments and other government agencies to ensure that we promptly address the needs of families affected by the earthquake, particularly in terms of housing,” he added.

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